KATHMANDU: Finance Minister Bishnu Prasad Paudel has stated that he will give top priority to implementing the budget presented in Parliament for the upcoming fiscal year.
He presented the budget for Fiscal Year 2025-26 in a joint session of both houses of the Federal Parliament on Thursday.
Speaking at a press conference organized by the Ministry of Finance regarding the 2025/26 budget today, the Finance Minister said that budget implementation will not be delayed and will begin immediately. He emphasized that he will not wait until Saun, the Nepali month marking the start of the new fiscal year, to begin execution.
“The question of budget implementation is challenging. This budget was not presented to please citizens’ ears; it will be implemented effectively. From today onward, my focus will be on executing this budget,” he asserted.
Noting that the Ministry of Finance has already started preparing a practical and objective implementation plan, DPM and Finance Minister Paudel said, “We do not need to wait until Shrawan for projects where preparatory work is complete. We can proceed right away.”
Paudel said the budget size this time is modest and realistic in terms of revenue and expenditure.
He added that the budget adopts a policy to increase capital expenditure, keep current expenditure within limits, and raise financial transfers to provinces and local levels.
The Finance Minister expressed optimism about achieving the revenue targets set in the budget by the end of the fiscal year. He also said internal loan estimates were made within the limits set by the Natural Resources and Fiscal Commission.
According to him, the budget statement includes progress on policy reforms and adopts a strategy to mobilize resources through alternative financing for economic development and prosperity.
Paudel mentioned that the budget was set realistically, defining consultation service limits to help provinces and local levels formulate their budgets accordingly.
He also highlighted efforts to link the national identity card with social security and other services and announced the removal of value-added tax on digital payments and advance income tax at customs points.
Vice Chairman of the National Planning Commission, Dr. Shivaraj Adhikari, emphasized the importance of monitoring budget implementation and assessing its outcomes.
He said efforts are underway for policy, practical, and structural reforms to ensure effective budget execution.
“The Planning Commission will coordinate with all ministries and agencies for implementation, monitoring, and evaluation of the budget. We will soon start discussions with all ministries to develop a budget implementation action plan,” he added.
Dr. Adhikari expressed hope that the upcoming budget would focus on implementing the 16th periodic plan.
Nepal Rastra Bank Governor Dr. Biswo Nath Poudel welcomed the budget’s introduction of various laws related to monetary policy management and the establishment of an asset management company for banks and financial institutions.
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