Budget Estimates Set at Rs 1900 Billion for Upcoming Fiscal Year

The Ministry of Finance has initiated the budget formulation process for the upcoming fiscal year 2082/83, projecting budget estimates of approximately Rs 1900 billion.

According to Finance Ministry Spokesperson Shyam Prasad Bhandari, the budget ceiling has been set by the National Resource Estimates Committee. “The committee has fixed a budget ceiling of around Rs 1900 billion, and corresponding ceilings have been allocated to all ministries,” Bhandari told RSS.

All ministries are required to submit detailed policies, programs, and indicators for inclusion in the budget to the Ministry of Finance and the National Planning Commission by mid-April. Discussions on these policies and programs will take place at the National Planning Commission from the first week of April.

Additionally, the Intergovernmental Fiscal Council is scheduled to convene by mid-April, with provincial-level discussions involving MPs on the budget’s objectives, priorities, and key programs. Consultations with political party representatives, former finance ministers, former governors, former finance secretaries, economists, and experts will also be conducted.

As per the budget calendar, a draft of the appropriation bill’s principles and priorities will be submitted to both houses of the federal parliament by the end of April. The final budget for fiscal year 2082/83 will be presented in the joint house on Jestha 15 of the lunar calendar.

Spokesperson Bhandari also informed that a five-member budget drafting committee, led by Shree Krishna Nepal, Chief of the Budget Division, has been formed. Additionally, a Revenue Advisory Committee has been established under the coordination of Revenue Secretary Dinesh Kumar Ghimire.