Kathmandu. A high-level discussion was held at the Ministry of Finance on Monday, focusing on preparations for the upcoming fiscal year 2083/84 budget.
During the discussion, Finance Secretary Dr. Ghanshyam Upadhyaya informed that facilitation has been provided to keep the authority regarding budget reallocation within the thematic ministries to simplify budget implementation. He also stated that clarity has been provided on policy matters such as the revision of the timeline for multi-year contract resource agreements.
Joint Secretary of the Budget and Program Division, Dr. Suman Dahal, gave a presentation on the current status of budget preparations and highlighted key points of progress. During the session, ministers from various ministries shared their views on the problems, priorities, and needs of their respective sectors.
Concluding the discussion, Finance Minister Wagle noted that the country is currently in a sensitive state of public financial crisis and stated that the upcoming budget will be a “collective test” for everyone. According to him, the current situation, where the state’s mandatory obligations are around 1330 billion rupees and revenue collection is around 1180 billion rupees, has made budget formulation challenging.
The Finance Minister emphasized that good governance and institutional strengthening, integrity, broad economic growth, promotion of private sector investment, expansion of information technology, green and sustainable development, capital formation through infrastructure construction, development of the middle class, and upliftment of the underprivileged should be put forward as the main theoretical foundations of the budget.
He urged all ministries to determine their priorities realistically and to be active in the budget formulation process within the available resources and limits.
Ministers and secretaries of all thematic ministries were brought together to discuss budget preparation, priorities, and discipline.
The discussion was attended by Finance Minister Dr. Swarnim Wagle, ministers and secretaries of various thematic ministries, and officials of the National Planning Commission.
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