Former Finance Minister Advocates for Inclusive Budget Consultation

Former Finance Minister and CPN (UML) Vice Chair Bishnu Prasad Paudel has emphasized the importance of wider political consultations in shaping the upcoming fiscal year’s budget, urging collaboration with other ruling parties. Speaking at a meeting of the House of Representatives, Paudel stressed that broader discussions would enhance the relevance and effectiveness of the budget for the fiscal year 2081-82 BS (2024-25).

Paudel expressed concerns regarding the allocation for the agricultural sector, noting a reduction despite the declaration of the upcoming decade as the ‘decade for investment in agriculture.’ He called for a comprehensive study on the decision to legalize cannabis farming, highlighting the necessity to evaluate its potential benefits and drawbacks.

Addressing specific provisions, Paudel suggested revisiting the concept of ‘one local level, one downtown, and one ward-park,’ while commending initiatives like providing land registration certificates for landless individuals. He lauded the budget’s potential to support national aspirations and welcomed the announcement of a consumer court.

Assessing the overall budget, Paudel characterized it as relatively brief and balanced, acknowledging the challenges in resource identification and management. While noting the ambitious targets, including a 6 percent economic growth rate, Paudel underscored the need for effective implementation to achieve them.

Paudel affirmed CPN (UML)’s strong support for the budget, particularly applauding the target revenue collection of Rs 1260 billion. The government’s budget of Rs 1860 billion 300 million for the new fiscal year, presented on May 28, reflects its commitment to addressing national priorities amidst economic challenges.

Paudel’s advocacy for inclusive budget consultation underscores the significance of political consensus in shaping policies that align with the country’s development goals and aspirations.