Nepal government will present its national budget for the upcoming fiscal year 2083/84 on Friday, as Finance Minister Dr. Swarnim Wagle takes the floor before a joint session of the Federal Parliament at 4:00 PM. The presentation follows a constitutional requirement to make the budget public every year on the 15th of Jestha, which also marks Republic Day. Speaker Dol Prasad Aryal has directed all lawmakers to be seated inside parliament by 3:45 PM. Just a day before the presentation, Dr. Wagle had already presented the Economic Survey for Fiscal Year 2082/83 before both houses of parliament, setting the economic stage for Friday's announcement.
Speaking before the National Assembly's Development and Good Governance Committee, Dr. Wagle was frank about the challenge: "We are bound, our resources are extremely limited. However, our desires, wishes, and expectations for development are unlimited. It is very difficult for us to fulfill unlimited desires amidst limited resources." Despite this, he has consistently promised a budget that goes beyond business as usual.
Stating that political transformation has already taken place and that economic transformation is now necessary, Dr. Wagle informed that the government, having received a new mandate, intends to break away from the traditional budget framework. He outlined that public resources and private investment will be redirected toward high return and employment generating sectors, including agriculture, tourism, energy, and information technology. The private sector, long sidelined in national planning, is expected to be placed at the center of this budget with simpler regulations, tax flexibility, and greater partnership in infrastructure development all on the table.
