Author: space4knews

Former Prime Minister Dr. Baburam Bhattarai has stated that although the upcoming budget appears attractive, it neglects investment in fundamental sectors such as education, health, and agriculture. He emphasized that the private sector alone cannot propel the economy, highlighting the need for a state-protected East Asian development model for Nepal. While the budget’s proposals on information technology and digital service delivery are positive, he noted that the existing structural framework will make it difficult to achieve targeted economic growth.

Dr. Bhattarai explained that despite the appealing presentation and outlook of the government’s budget for the coming fiscal year, it creates similar disappointment regarding the structural transformation of the economy. According to him, the budget prioritizes information technology and digital services but overlooks investment in essential sectors such as education, health, and agriculture. He stressed that without state protection, the private sector cannot enable the economy’s ‘take-off,’ and pointed out Nepal’s need for an East Asian development approach.

In a brief discussion about the strengths and structural weaknesses of the budget, Dr. Bhattarai remarked that although the language and presentation of the budget are appealing, there is no significant change in the overall structure. He argued that approximately 20 percent of the budget should be allocated to education, 10 percent to health, and 8–10 percent to agriculture. However, the current budget allocates only around 10 percent to education, 2–5 percent to health, and about 3 percent to agriculture.

Expressing the view that the budget fails to address the transitional phase of development, Dr. Bhattarai stated, “To make a qualitative leap in our transitional economy—from agriculture to industry and services—targeted investment in specific sectors is essential.” Although the budget presentation is attractive, he warned that the absence of structural reforms will make it difficult to guarantee good governance.

Former Finance Minister Barshaman Pun has accused the government of presenting a distribution-focused budget that contradicts its commitments. He pointed out that the budget size exceeds the Planning Commission’s allocation by 1.5 trillion rupees, and that the unrealistic scale of the budget has caused issues. Pun also commented that the budget appears to be tailored for the upcoming local elections. (15 Jestha, Kathmandu)

He highlighted inconsistencies regarding the budget’s funding source, which relies on loans, despite the ruling Rashtriya Samajwadi Party having criticized previous governments for taking on heavy debts. Pun said, “Even those who accused past established parties of plundering the country through excessive borrowing now find themselves borrowing and spending, which contradicts their past commitments. We must either admit that our previous criticisms were wrong or accept that the current situation does not align with our expectations.”

Elaborating on the budget size, Pun noted that it surpasses the Planning Commission’s recommended limit of 20 trillion rupees by 1.5 trillion rupees. “The budget size is not based on reality, even the Finance Minister is aware of this,” he stated. While Communist finance ministers have faced criticism in the past for introducing distribution-focused budgets, Pun pointed out that this budget follows a similar pattern. He reiterated that the budget seems designed with the upcoming local elections in mind.

15 Jestha, Siraha – The government has presented the budget for the upcoming fiscal year 2083/84. Finance Minister Dr. Swarnim Wagle unveiled the budget on Friday during the joint session of the Federal Parliament. The budget places special emphasis on infrastructure, health, sports, agriculture, tourism, and drinking water sectors in Madhesh Province.

According to Minister Wagle, projects related to railways, stadiums, hospitals, irrigation, and tourism development in the districts of Madhesh have been given top priority. The government has announced plans to advance the railway expansion work connecting Bardibas and Kathmandu via an express route. Budget allocation has been secured for the ongoing Bardibas–Biratnagar railway project, and funding has also been earmarked to complete the remaining works on the Janakpur–Jaynagar–Bardibas railway line.

In the area of sports infrastructure, the government has allocated NPR 403 million. In preparation for the proposed 11th National Sports Competition in Madhesh Province, necessary infrastructure will be developed. The budget highlights plans to upgrade at least ten football stadiums with a capacity of 8,000 spectators each by adding floodlights within the next three years. Additionally, indoor multipurpose stadiums with capacities of at least 2,000 spectators are planned for construction in Viratnagar, Lahan, Kathmandu, Pokhara, Surkhet, and Dhangadhi. The budget also aims for the establishment of modern cricket stadiums across eight major cities within five years.

Regarding healthcare, infrastructure development will progress at Narayani Hospital, Gajendranarayan Singh Hospital, and Ram Rajaprasad Singh Health Science Institute located in Madhesh Province. The government has announced plans to establish kidney disease treatment centers and trauma centers within the province. Furthermore, free cancer treatment for children will be provided at government hospitals.

In agriculture, plans include establishing mango processing centers in Siraha–Saptari and a tomato processing center in Sarlahi. To extend underground irrigation to 3,980 hectares of cultivable land in the Terai-Madhesh region currently lacking surface irrigation, NPR 183 million has been allocated.

To sustain the water cycle in Terai-Madhesh, approximately NPR 100 million has been allocated for programs involving water source conservation, pond construction, landslide control, and embankment building. In the drinking water sector, community-level water supply projects including deep boring will be expanded to address severe shortages during dry seasons. The government also plans to initiate the ‘Arsenic-Free Terai Campaign.’ An additional NPR 250 million has been allocated to complete 280 incomplete drinking water projects.

In tourism and culture, the process to inscribe Janakpurdham as a World Heritage site will be advanced. The government plans to develop and brand Janakpur as a ‘wedding destination.’ Budget provisions have also been made for upgrading Ramjanaki Path and Ramjanaki Parikrama roads, Minister Wagle stated. Moreover, Sakha in Saptari, Dhanushadham, and Gadhimai regions will be developed as regional corridors as outlined in the budget.

The budget also includes plans to operate model homestays in Madhesh for Dalit and impoverished communities as a demonstration project.

May 28, Kathmandu – Member of Parliament Gyanendra Shahi from the Rastriya Prajatantra Party (RPP) has raised concerns about the government presenting a budget with a deficit exceeding NPR 650 billion. Speaking to reporters at the parliamentary premises following Friday’s budget speech, MP Shahi stated that the deficit shown in the budget is not a minor issue. “The NPR 65.729 billion allocated is not sufficient for the budget the government has introduced. This is not a trivial matter,” Shahi said. “Presenting a budget is not a big deal; nowadays, budgets can be brought up to even NPR 50 trillion.”

He also revealed that NPR 247.27 billion of the deficit budget is planned to be financed through foreign loans. “The government intends to bring NPR 24.727 billion in foreign debt, and NPR 41 billion in internal loans, which will be raised domestically,” he explained. Shahi recalled that in previous fiscal years, budgets worth NPR 1.8 to 1.9 trillion were approved, but actual implementation only utilized about NPR 1.3 trillion. He emphasized that the biggest challenge remains figuring out the source of the funds to cover the budget deficit.

The news has been editorially reviewed. Finance Minister Dr. Swarnim Wagle has announced a budget of NPR 2 trillion 124 billion 3.4 million for the upcoming fiscal year. In this budget, the government has allocated NPR 431 billion for capital expenditure and NPR 422 billion for financial management. The private sector has shown enthusiasm for this public budget, while economists have begun the review process. Kathmandu, 29 May – The review process of the government’s budget for the upcoming fiscal year has commenced. In this context, an online platform has initiated a budget review discussion with economists. Earlier today, Finance Minister Dr. Swarnim Wagle presented the budget for the next fiscal year. The private sector has expressed optimism regarding the budget. Economists including Prakash Kumar Shrestha, Chartered Accountant Sudarshanraj Pandey, and young economist Uja Thapa participated in the budget review with the online platform. Finance Minister Wagle announced the budget at NPR 2 trillion 124 billion 3.4 million. He specified allocations of NPR 431 billion for capital expenditure and NPR 422 billion for financial management. Currently, various businesspeople and economists are sharing their reactions to the budget.

Finance Minister Dr. Swarnim Wagle is set to present the budget for the upcoming fiscal year at the joint session of the House of Representatives and National Assembly. This year, instead of the traditional briefcase, the budget has been prepared in a Nepali paper file. After approval by the Council of Ministers, the budget will be submitted to the Federal Parliament’s joint session. Kathmandu, 15 Jestha.

The budget for the upcoming fiscal year is about to be unveiled. Finance Minister Dr. Swarnim Wagle is scheduled to present it at the joint meeting of the House of Representatives and National Assembly. This time, he has prepared the budget in a Nepali paper file rather than the traditional briefcase. The budget was presented at the Council of Ministers meeting today. After its approval, Minister Wagle will present the budget to the joint parliament session.

File photo. Editorially reviewed news summary. Finance Minister Swarnim Wagle announced the allocation of NPR 200 crore in the fiscal year 2083/84 budget for the improvement of housing facilities for Nepali Army soldiers. Previously ongoing under the ‘Bunker to Barrack’ initiative, the program’s name has been changed to ‘Housing Improvement Program’ for this budget allocation.
Kathmandu, 15 Jestha – NPR 200 crore has been earmarked in the fiscal year 2083/84 budget for upgrading the housing standards of Nepali Army personnel. Finance Minister Swarnim Wagle disclosed this information while presenting the budget. Although the budget had been allocated earlier for housing improvements under the ‘Bunker to Barrack’ scheme, this time the program’s name has been officially changed to ‘Housing Improvement Program’ for budget purposes.

May 28, Kathmandu – The government has allocated a budget of NPR 8.554 billion for energy production, transmission, and distribution works in the upcoming fiscal year. Finance Minister Dr. Swarnim Wagle, while presenting the budget, stated that this amount is designated for the construction of energy generation, transmission, and distribution lines. Additionally, he informed that a 2.5-megawatt green hydrogen plant in Hetauda will be operated as a pilot project to initiate the commercial production of green hydrogen.