Author: space4knews

Economists believe that, like other provinces, the budget failed to adequately address the needs of Madhesh. They suggest that allocating funds for the development of Shaktipitha pilgrimage tourism centers in Madhesh would have ensured a more appropriate budget allocation.

15 Jestha, Kathmandu — The Nepal Tharu Association, a sister organization of the Nepali Congress, is holding its first general convention today. The Tharu Association has planned its inaugural convention on Saturday. According to Acting General Secretary Krishnaprasad Dulal, President Gagan Kumar Thapa will inaugurate the first general convention of the Tharu Association. He stated that the convention will commence at 12:15 PM at the party’s central office in Sanepa. The Tharu Association is one of the newly established sister organizations under the Nepali Congress. It received official recognition as a sister organization from the central working committee of the parent party in Shrawan 2079 (July-August 2022). Currently, the chairman of the Tharu Association’s central interim working committee is Shivnarayan Mahto Gurau.

May 29, Kathmandu — Western low-pressure troughs, local winds, and a low-pressure trough extending from the west to the east near Nepal are currently influencing the country’s weather. At present, Koshi, Madhesh, Bagmati, and Gandaki provinces are completely overcast, while the hilly and mountainous regions of Lumbini, Karnali, and Sudurpashchim provinces are generally cloudy. Other Terai areas are partly cloudy. Moderate rainfall is occurring in some parts of Koshi, Lumbini, Karnali, and Sudurpashchim provinces.

The Department of Hydrology and Meteorology’s Meteorological Forecasting Division predicts generally cloudy skies across the country this afternoon. There is a possibility of moderate rain accompanied by thunder and lightning and snowfall in some areas of the hilly and mountainous regions of Lumbini, Karnali, Sudurpashchim, Koshi, Bagmati, and Gandaki provinces, as well as in small pockets within the Terai regions of Madhesh, Koshi, Bagmati, Gandaki, Lumbini, and Sudurpashchim provinces. Some locations in the Terai and hill regions of the country are also likely to experience strong winds.

Tonight, the hilly and mountainous areas of Sudurpashchim Province and other parts of the country are expected to remain generally cloudy, whereas the rest of the regions will experience partly cloudy skies. Light rain and snowfall are possible in some hilly and mountainous locations of Sudurpashchim, Karnali, and Gandaki provinces, as well as in one or two places within the mountainous areas of Koshi, Bagmati, and Lumbini provinces.

This time, NPR 403 million has been allocated for the sports sector, which is less than one percent of the total budget.

May 29, Bhadrapur (Jhapa) – For the first time, commercial fox nut (makhana) cultivation has begun in the southern border region of Kachan Kawal in Jhapa, an area traditionally known for rice farming. Makhanas, a nutritious food derived from a water lotus species, have garnered local attention as a young farmer has initiated large-scale cultivation for the first time in Nepal. Chand Rajvanshi, a 39-year-old farmer from Kachan Ward No. 4 of Kachan Kawal Rural Municipality, acquired cultivation techniques from Bihar, India, and has begun growing makhana over 20 bighas of land. This farming method, which involves flooding fields typically used for rice and maize cultivation, is a novel and distinct agricultural practice in Jhapa.

Rajvanshi leased the land by paying an advance equivalent to the price of 30 mann of rice per bigha for a ten-year period to start makhana farming. “Seeing makhana cultivation becoming a lucrative enterprise in bordering regions of India inspired me to explore its potential in Nepal as well,” he stated. “Despite the risks, I invested significantly as a trial of this new farming technique.” Makhana is an aquatic lotus plant with broad leaves covered in spines; flowers and fruits emerge through the center of its leaves.

The flowering begins in the last week of Baisakh (April-May), and the fruit ripens by the last week of Shrawan (August-September), according to Rajvanshi. He explained that initiating this cultivation demands substantial labor: “Preparation of the fields begins in Poush (December-January) by digging and carefully leveling the land, followed by continuous flooding.” Since the crop takes about eight months to yield, patience and investment are both essential, he added. Having imported seeds and techniques from India, Rajvanshi has already invested roughly NPR 1.4 million. He estimates a profit of up to NPR 300,000 per bigha if the produce can be exported to India.

As commercial makhana farming is unprecedented in Nepal, market management and government policies regarding this crop remain unclear. Rajvanshi emphasized the need for support in marketing and export facilitation post-harvest. Since the introduction of makhana cultivation, local interest in Kachan Kawal has increased significantly. Locals have expressed enthusiasm, frequently visiting the fields to observe this unique farming method. “Many farmers are curious to see this different type of farming by flooding rice fields,” Rajvanshi said.

Makhana is considered an important food both religiously and health-wise. Used as a prasad in Hindu worship, makhana is mainly imported into Nepal from India. Nutritionists note that makhana contains abundant protein, fiber, calcium, iron, magnesium, potassium, and vitamin C. Regarded as a ‘superfood’ and ‘organic food,’ makhana can be cultivated without chemical fertilizers or pesticides, increasing its demand in both Indian and international markets. Rajvanshi has installed a borewell using his own investment without government support to irrigate his crops. If market conditions improve, he plans to expand makhana cultivation further in the coming years.

May 28, Kathmandu – On Friday, Finance Minister Dr. Swarnim Wagle presented the first budget of the National Independent Party-led government during a joint session of the Federal Parliament. Following the political changes after the Gen Z movement, an economist as the finance minister, a single party government with nearly two-thirds majority, and the strong aspirations of the general public for rapid development and prosperity, there were high expectations surrounding this budget. These expectations were apparent within Parliament.

As the new parliamentary building is still under construction, the budget speech was delivered in a multi-purpose hall prepared as an alternative venue. Visitors were all seated in one hall. Representatives from the private sector, leaders from civil society, and stakeholders had gathered at the Parliament to listen to the budget via television broadcast, though former finance ministers did not attend to hear the budget as they had in previous years.

The government proposed a budget of NPR 2.12434 trillion, allocating NPR 1.27058 trillion for recurrent expenditure and NPR 431.10 billion for capital expenditure. Financial management was announced at NPR 422.64 billion. This budget is 25 percent larger than the current revised estimate for the fiscal year. While listening, a private sector representative remarked, “The size is appropriate, but the sources are unclear.” According to Finance Minister Wagle, the government plans to collect NPR 1.405 trillion in revenue and secure NPR 6.174 billion in foreign grants in the upcoming fiscal year. It also targets foreign loans of NPR 247 billion and domestic loans of NPR 410 billion. Based on this, the government is confident of achieving 7 percent economic growth.

Prime Minister Balen (Balendra Shah) arrived at Parliament 14 minutes late, resulting in a delay of the scheduled 4 p.m. budget speech. He listened to the entire budget presentation; however, Hark Sampang, Chairperson of the Labor Culture Party, did not remain for long. Briefly stepping out, Hark posted on Facebook, “The Prime Minister is here. It’s my pressure that holds him accountable. That’s why I came to listen to his budget speech. He listened to the budget but not the Policy and Program.” Contrary to Hark’s assertion, Balen had not missed the Policy and Program speech. On April 11, when President Ramchandra Paudel read the Policy and Program, Balen had left midway and only returned to Parliament 17 days later. The opposition parties pressed him for answers on this matter but received none. Prime Minister Balen was also absent for the discussions and question-answer sessions on the Policy and Program and has not participated in the direct question period with MPs scheduled for the first week of Jestha, as mandated by parliamentary rules. Despite MPs posing questions during sudden, zero, or special sessions, answers were not provided. Hark Sampang has consistently displayed protest placards in recent parliamentary sessions. He left Parliament as soon as Balen arrived on Friday. With Balen’s return after 17 days, Hark stresses that the Prime Minister must now respond to MPs’ questions. Posting on Facebook, Hark said, “Today, the deity of cough was removed from the Parliament. Now I will start to speak.” Both Balen and Hark were elected to the House of Representatives in the February 4, 2023 election. They were independent candidates in the 2022 local elections—Balen was elected Mayor of Kathmandu Metropolitan City and Hark Mayor of Dharan Sub-Metropolitan City. Both left their mayoral posts to join Parliament. As prominent “icon” figures in the new House, their interactions and behind-the-scenes exchanges have become a fascinating aspect of parliamentary proceedings.

In a challenging time, instead of the traditional printed budget booklet, the government made the budget available via QR codes, facilitating easy access for everyone to budget-related information. Previously, former finance ministers would bring the budget to Parliament in briefcases, with the red briefcase becoming a recognized symbol of the budget. Some even kept the budget in briefcases made of cloth. Finance Minister Wagle broke tradition this time, bringing the budget in a Nepali paper file. The Rastriya Swatantra Party (Raswap) has been striving to differentiate itself from traditional parties, and Minister Wagle has also sought to distinguish himself from his predecessors.

After the speech, he did not give any media comments but participated in discussions with top leaders in Parliament, including Prime Minister Balen, Raswap Chairman Ravi Lamichhane, and Raswap spokesperson Manish Jha. When asked offline what the main essence of the budget was, Finance Minister Wagle outlined three points: first, a “Big Bang” stimulus to the economy; second, a “Big Push” for infrastructure; and third, a “Big Hit” for good governance. The minister expressed a desire for social discourse on the budget to center around these three themes. Prime Minister Balen and Raswap Chairman Lamichhane also supported this approach. Later, spokesperson Jha commented to the media, describing the two-thirds majority government’s budget as “faceless, contactless; with digital operations from home, many corruption-related activities can be controlled without in-person meetings.”

Another noteworthy scene that caught citizens’ attention was Prime Minister Balen’s attendance at the Parliament session wearing Goldstar shoes. During the approximately one-and-a-half-hour budget discussion, he occasionally expressed support by tapping the table. After the speech, he greeted nearby MPs with a handshake. Upon leaving Parliament, he also met Raswap MP Vidushi Rana. She shared, “As I was leaving, he came close and said, ‘I am wearing Goldstar shoes.’ Initially, I didn’t realize, but later I found out the Prime Minister was wearing shoes from his own company.” MP Rana, who heads this company, said she was very pleased that the Prime Minister was using a locally made product. The company, with a 55-year history, employs 3,000 people, 70 percent of whom are women. Despite obstacles caused by the armed conflict, blockade, earthquake, and the COVID-19 pandemic affecting exports, the company still exports to India. “Despite such hardships, Nepali products remain competitive. I am happy to see the Prime Minister using them,” she added. MP Rana also reminded the Prime Minister of previously using products from the Domestic Development Corporation (DDC) and praised him as a patriotic person who promotes domestic products. Prime Minister Balen has been wearing trousers produced by garment factories in Biratnagar for some time, which have become popular among youth as “Balen Trousers.” The promotion of Goldstar shoes in Parliament on the day of the budget speech marked the first such occurrence.

Finance Minister Swarnim Wagle presented the budget for the upcoming fiscal year 2083/84 in parliament on Friday. The Home Ministry’s budget has been reduced by nearly half, now set at NPR 108 billion 32 crore 93 lakh. In contrast, the Defence Ministry’s budget witnessed a slight increase compared to the previous fiscal year, reaching NPR 6 billion 96 crore 75 lakh. Kathmandu, 15 Jestha.

According to the budget for fiscal year 2083/84 presented by Finance Minister Swarnim Wagle on Friday, the total allocation for the Home Ministry stands at NPR 108 billion 32 crore 93 lakh. In comparison, the Home Ministry’s budget for fiscal year 2082/83 had been NPR 208 billion 62 crore 44 lakh. This reflects approximately a 50% reduction in the Home Ministry’s budget.

Conversely, the Defence Ministry’s budget experienced an increase. The newly proposed budget allocates NPR 6 billion 96 crore 75 lakh to the Defence Ministry, compared to NPR 6 billion 1 crore 21 lakh in the previous fiscal year 2082/83.

Finance Minister Dr. Swarnim Wagle has announced a budget of NPR 2.124 trillion for the upcoming fiscal year. The government has allocated NPR 1.270 trillion for current expenses, NPR 431 billion for capital expenditure, and NPR 422 billion for financial management. Of the total budget, NPR 1.404 trillion is expected to be raised from revenue, with the remaining amount planned to be managed through grants and loans.

May 28, Kathmandu: The budget for the upcoming fiscal year has been declared at NPR 2.124 trillion. Finance Minister Dr. Swarnim Wagle presented the budget plan outlining NPR 431 billion for capital investment and NPR 422 billion for financial management. Revenue collection is projected at NPR 1.404 trillion. Additionally, NPR 6.174 billion has been allocated from grants and NPR 247 billion from foreign loans. Domestic loans are set at NPR 410 billion, while current expenditures have been set at NPR 1.270 trillion.

May 29, Kathmandu – Nepali Congress MP Niskala Rai has voiced serious concerns over the government presenting a budget that involves the highest amount of foreign debt to date. Speaking to reporters within the parliamentary premises on Friday after the budget statement, he revealed that the public debt is close to NPR 3 trillion.

He stated, “The size of the proposed budget is NPR 2.124 trillion, while the National Planning Commission had only accepted NPR 1.897 trillion. This exceeds the commission’s limit by 12 percent.” Regarding the budget sources, Rai explained, “NPR 1.47 trillion is expected from revenue and NPR 247 billion from foreign loans. This is the highest foreign loan amount in this period.”

Providing further details on internal debt, he said it stands at NPR 410 billion, bringing the country’s total internal and external debt to NPR 2.933 trillion. He added, “Including the additional NPR 657 billion debt to be incurred, debt will increase by 22.41 percent.” Rai noted that this will push per capita debt burden to over NPR 120,000.

The government has allocated a budget exceeding NPR 3.02 trillion for the newly formed Ministry of Infrastructure Development, established through the merger of various physical ministries. The plan for the upcoming fiscal year includes blacktopping 1,000 kilometers of road and launching the Nagdhunga tunnel route starting from the month of Shrawan. Additionally, the government has announced the operation of an alternative development finance fund to attract private investment in infrastructure and will permit the private sector to engage in electricity trading.

On 15th Jestha in Kathmandu, the government has resolved to implement aggressive reforms to address structural issues observed in infrastructure projects. These measures aim to initiate a ‘takeoff’ phase for stalled infrastructure development. Led by Balendra Shah, the government consolidated ministries responsible for physical construction into a powerful Ministry of Infrastructure Development, which has received the highest budget allocation—over NPR 3.02 trillion.

According to Finance Minister Dr. Swarnim Wagle, the government will accelerate operational reforms in the coming fiscal year, positively impacting the pace and coordination of capital expenditures. Procurement processes will be improved, and resource management will adopt greater flexibility. Alternative financing mechanisms will be introduced, with stability maintained for project leaders to ensure projects are completed within designated costs and timelines under a ‘mission mode’ approach.

The budget also announced the enactment of a Sunset Law to address challenges posed by long-term legislation. This law provides for automatic review and expiration of laws after a specific period and will be presented to Parliament. Furthermore, advance mobilization payments will be strictly tracked and monitored to ensure they are used solely for their respective projects in the upcoming fiscal year.

Finance Minister Wagle also stated that an initial list of infrastructure projects suitable for the hybrid NUT model will be prepared within three months. In response to cost increases for fuel, bitumen, and construction materials caused by the Middle East conflict, the government is committed to taking necessary measures to address difficulties faced by construction businesses.

Prior to the budget announcement, umbrella organizations representing Nepal’s private sector had urged the government to resolve challenges encountered by construction entrepreneurs.

Integrated Model for Infrastructure Development

The current budget introduces the concept of an integrated infrastructure construction model. Previously, lack of coordination among development ministries led to operational inefficiencies. As per Finance Minister Wagle, sectors including roads, transportation, water supply, sanitation, and financial access infrastructure will be developed in a unified manner. The plan also incorporates efforts to enhance travel safety by improving road quality to reduce human casualties from accidents.

Reconciling Development and Environment

The government has also put forward plans to reconcile conflicts between development and environmental conservation. Finance Minister Wagle stated that amendments will be made to the Environment Protection Act 2076 and Forest Act 2076. The budget specifies that when the approved Environmental Impact Assessment reports indicate a reduction in forest area or tree removal, supplementary assessments will not be required. Additionally, procedures for forest area approval and tree cutting decisions will be simplified.

Khushbu Oli, a member of parliament from the Rastriya Prajatantra Party (RPP), expressed concerns regarding the implementation of the budget presented in parliament. She pointed out that since the budget does not accurately assess actual resources, problems could arise during its execution. Kathmandu, 15 Jestha.

MP Oli warned of the risk that the budget could become a tool for political showmanship, stating, “There is a risk of eroding public trust.” She added, “Announcing a budget without ensuring that resources are available will only serve as empty promises, which could lead to policy failure.”

Oli also noted that the budget, prioritizing satisfying all parties, carries the danger of generating only short-term popularity for the government. “This budget risks becoming a means of political display rather than a vehicle for development,” she said.