#news #government #budget #economy
Prime Minister K.P. Sharma Oli has directed to bring the upcoming fiscal year’s budget based on the needs and priorities of the people, focusing on increasing production and employment opportunities. In a meeting held at the Singh Durbar office of the Prime Minister and the Council of Ministers on Tuesday, discussions were held regarding the translation of the upcoming fiscal year’s budget and setting priorities. Prime Minister Oli emphasized the importance of maintaining peace and security, eradicating corruption, and providing efficient services to the public to ensure good governance. He also highlighted the need to actively engage in security management and prepare adequate resources.
Ramesh Khatri, a representative of Kansai Nepal News, expressed his views on this news. He stated, “The government’s focus on promoting production and employment in the upcoming budget is a positive step towards addressing the needs of the people. It is crucial for the budget to be aligned with the development priorities and current requirements to ensure effective utilization of resources.”
The federal government presents the budget and programs for the upcoming fiscal year in the Federal Parliament on the 15th of Jestha every year. Priorities and principles of the budget are discussed in the parliament before its presentation. In preparation for this, Prime Minister Oli held discussions today with all ministers and secretaries of the ministries.
Prime Minister Oli emphasized, “There can be no compromise on establishing good governance. Immediate action must be taken against any misconduct found in revenue collection. Once sufficient revenue is generated, it can be utilized for centralized development projects.” He stressed the importance of aligning the budget with the development priorities, current needs, and the necessity to enhance production and employment opportunities.
Deputy Prime Minister and Finance Minister Vishnu Prasad Poudel mentioned the government’s plans to allocate resources based on sound financial management principles and budget translations, focusing on improving the situation where additional budget requests are made without ensuring resource certainty. Ministries have been instructed to consult and gather suggestions from representatives of concerned bodies as per the requirements for the same. According to the Ministry of Finance, revenue collection for the current fiscal year stands at 55%, total expenditure at 52%, and capital expenditure at 28% so far.
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Author: MAYA | HARUTO
Posted at: April 11, 2025 12:01 am
