Appropriation Bill realistic, aimed at self-reliance and sustainable development: Finance Minister

KATHMANDU: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, has stated that the principles and priorities of the upcoming Appropriation Bill have been determined in line with the country’s current economic status and resource management capabilities.

Responding to lawmakers’ queries in the House of Representatives regarding the Appropriation Bill (excluding tax proposals) for the fiscal year 2025/26, Minister Paudel said the government is formulating the budget by internalizing ground realities and addressing national aspirations such as socialism based on democratic values and the vision of a “Prosperous Nepal, Happy Nepali.”

He said the upcoming budget will focus on enhancing production, ensuring equal access, alleviating poverty, and creating a self-reliant economy through collaboration among the public, private, and cooperative sectors.

Minister Paudel highlighted the importance of boosting the morale of the private sector, improving productivity and competitiveness, creating jobs, and increasing self-confidence across economic actors.

The budget will also prioritize sustainable and rapid development, implementation of fundamental constitutional rights, and ensure efficient public finance management.

He said special attention will be given to enhancing cooperation and coordination among the federal, provincial, and local governments. The government is also committed to promoting good governance, expanding access to digital services, improving public service delivery, and curbing corruption.

According to Minister Paudel, the upcoming budget will introduce effective programs to address unemployment, uplift people below the poverty line, promote self-employment, expand investments, boost production, and raise national income. There will also be a focus on achieving significant progress in agriculture, tourism, and industrial development through expansion of the digital economy.

In a separate remark, the Finance Minister clarified that the government would not support or recognize crony capitalism.

He further assured that inputs from pre-budget discussions and suggestions from parliamentarians would be reflected in the national budget, which is scheduled to be presented on May 28. The next session of the House of Representatives will convene at 11:00 AM on May 18.