PM Prachanda Announces Radical Reform in Budget Making and Allocation

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ declared a groundbreaking shift in the process of budget formulation and allocation during the inauguration of a meeting with central office bearers of the Press Center Nepal today.

Addressing the gathering, PM Prachanda emphasized the government’s commitment to adopting a new approach to crafting the policy and program for the upcoming fiscal year. “We will put the stakeholders at the center of our decision-making process, introducing a radical reform to shape the new budget,” he announced.

The Prime Minister highlighted the positive signals of economic improvement, despite acknowledging the existing pressure on the nation’s economy. “While our economy is still facing challenges, there are encouraging signs of improvement. It’s important to recognize that our economic condition compares favorably with other South Asian countries,” stated PM Prachanda.

The proposed reforms aim to make the budgeting process more inclusive and responsive to the needs of various stakeholders, reflecting a concerted effort to navigate economic challenges and foster sustained growth. As the government gears up for the next fiscal year, these changes signify a significant step toward a more dynamic and participatory budgetary framework.