Finance Minister Dr. Swarnim Wagle Consults with Ministers and Secretaries on Budget Preparation

Finance Minister Dr. Swarnim Wagle engaged in detailed consultations with ministers and secretaries of sectoral ministries regarding the preparation of the budget for the upcoming fiscal year 2083/84. The discussions, held at the Ministry of Finance, were also attended by the Vice-Chairman and members of the National Planning Commission, along with Sudip Dhakal, the Prime Minister’s Advisor on Administration and Good Governance. Minister Wagle emphasized prioritizing good governance, economic development, private investment, infrastructure development, and the upliftment of disadvantaged groups in the budget formulation process.
7 Baisakh, Kathmandu.

On Monday, an extensive meeting was convened at the Ministry of Finance between Finance Minister Wagle and all ministers and secretaries of sectoral ministries to discuss the budget preparation for the upcoming fiscal year. Representatives from the National Planning Commission, including its Vice-Chairman and members, as well as Sudip Dhakal, the Prime Minister’s Advisor on Administration and Good Governance, participated in the session. Finance Secretary Dr. Ghanshyam Upadhyay provided insights into the Ministry’s decision to simplify the budget reallocation process across sectoral ministries, adjustments to timelines under multi-year contract resource agreements, and other relevant matters.

Deputy Secretary of the Budget and Programme Division, Dr. Suman Dahal, presented the progress made so far in preparing the upcoming fiscal year’s budget. Ministers discussed the current situation and challenges related to their ministries’ budgets and programs. Highlighting the country’s public financial crisis, Finance Minister Wagle noted that the upcoming budget will undergo thorough collective scrutiny from all stakeholders.

According to Minister Wagle, with the government’s mandatory expenditures amounting to NPR 1,330 billion and revenue standing at NPR 1,800 billion, addressing the aspirations of the citizens while crafting the budget remains a challenging task. He stressed that the budget principles should focus on good governance and institutional strengthening, adopting policies of integrity, sustainable economic growth, encouraging private investment, expanding information technology, infrastructure development for capital formation, advancement of the middle class, upliftment of the disadvantaged groups, and promoting softer power. These principles should guide the selection of budgets and programs.
Minister Wagle also requested all ministries to be fully aware of the constraints and limitations faced by the Ministry of Finance and to determine their priorities accordingly to actively participate in the budget formulation process.