20th April 2025, Kathmandu
Former Finance Ministers have urged the government to present a practical, implementable, and production-oriented budget for the Fiscal Year 2082/83, avoiding populist measures and unrealistic promises.
Nepal’s FY 2082/83 Budget
Their suggestions came during a consultation organized by the Ministry of Finance, where they emphasized fiscal discipline, project prioritization, and private sector involvement.
Focus on Fewer but High-Impact Projects
The former ministers advised against scattering resources across too many projects. Instead, they recommended:
Prioritizing large, feasible, and transformative projects
Completing national pride projects in phases
Optimizing existing infrastructure rather than initiating redundant schemes
Strengthen Health, Education, and Income Generation
Key sectors like health, education, and employment should be prioritized to ensure sustainable growth. Programs that enhance skill development, entrepreneurship, and domestic production must be emphasized.
Clear Policy Framework and Public-Private Collaboration
Dr. Baburam Bhattarai stressed the need for policy clarity and defining the roles of the public, private, cooperative, and community sectors.
Janardan Sharma suggested shifting revenue dependence from imports to domestic production and involving the private sector in large infrastructure projects.
Fiscal and Monetary Policy Coordination
Dr. Prakash Sharan Mahat highlighted the importance of aligning fiscal and monetary policies for economic stability.
Dr. Prakash Chandra Lohani called for better coordination between agriculture and industry to boost productivity.
Balanced Regional Development and Foreign Investment
Gyanendra Bahadur Karki advocated for geographically balanced budget allocations and attracting foreign direct investment (FDI).
Barshaman Pun recommended equal budget distribution across provinces and a focus on information technology (IT).
Avoid Populist Measures—Focus on Results
Shankar Koirala advised completing ongoing projects before launching new ones and focusing on tourism, energy, and irrigation.
Dr. Rup Jyoti suggested policy reforms to encourage private sector competition through incentives.
Deputy PM Paudel Commits to a Disciplined Budget
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel assured that the upcoming budget will be realistic, disciplined, and free from populist slogans, focusing instead on execution and economic growth.
Conclusion
The consensus among former Finance Ministers is clear: Nepal needs a budget that is implementable, prioritizes key sectors, and fosters public-private collaboration. By focusing on high-impact projects, domestic production, and policy stability, the government can ensure sustainable economic growth in Fiscal Year 2082/83.
For more: Nepal’s FY 2082/83 Budget