Kathmandu: Prime Minister KP Sharma Oli has directed ministers and secretaries to focus on preparing a budget that boosts production and increases employment. He emphasized that needs and priorities should guide budget formulation.
According to National News Agency Nepal, PM Oli issued these directives during a discussion on budget priorities for the coming year, held at the PM’s office in Singha Durbar. He highlighted that peace, security, the end of corruption, and convenient services are achievable through good governance, underscoring the need for appropriate security arrangements and resources to maintain peace.
The federal government is constitutionally required to announce the budget on Jesth 15 of the Lunar Calendar. Prior to this, budget priorities and principles are discussed in parliament. The Prime Minister’s meeting with ministers and secretaries was part of this preparatory process.
The Prime Minister stated that there should be no compromise on good governance. He insisted that those evading revenue must be held accountable to ensure adequate revenue collection, which is crucial for funding development projects.
PM Oli also urged ministers to avoid preparing budgets without securing sources and stressed the importance of fairness in budget preparation, free from favoritism.
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel noted that the budget would be based on standards discouraging budget scattering. The government is actively seeking suggestions from relevant sectors.
The Finance Ministry’s records indicate that the government has collected 55 percent of its revenue target so far, with total spending at 52 percent. Capital spending in the current fiscal year stands at 28 percent.