Newly appointed Finance Minister Dr. Swarnim Wagle has been saying that a transformative budget will be brought for the upcoming fiscal year.
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The plans and programs proposed by four ministries for the upcoming fiscal year 2083/84 have been discussed.
As part of the initial phase of budget formulation, the National Planning Commission, in coordination with the Ministry of Finance, today discussed the plans and programs proposed by the Ministry of Home Affairs, the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Youth and Sports, and the Ministry of Women, Children and Senior Citizens, informed the Commission's spokesperson, Harisharan Pudasaini.
The Commission had discussed the budget with the Ministry of Finance, the Ministry of Foreign Affairs, and the Ministry of Law, Justice and Parliamentary Affairs on Sunday. The ministries are entering their plans and programs into the Ministry-Level Budget Information System (LMBIS) based on the medium-term expenditure structure prepared by the Planning Commission, the budget ceiling determined by the National Resource Estimates Committee, and the guidance received from the Ministry of Finance.
According to the Financial Procedures and Fiscal Responsibility Act, 2076, each ministry has to prepare policies, programs and budget proposals of its subordinate bodies within the budget limits and guidance received and submit them to the National Planning Commission and the Ministry of Finance within the deadline. For that, the Ministry of Finance had given the ministries a deadline of 15 Chaitra.
Newly appointed Finance Minister Dr. Swarnim Wagl has been saying that a transformative budget will be brought for the upcoming fiscal year.
Accordingly, the Ministry of Finance has asked to propose only plans and programs that are consistent with the government's existing policies and periodic plans, projects that are in line with the medium-term expenditure structure, have been prepared in advance and have cost estimates, and include projections of expenditure and resources for the next 3 years.
Similarly, the Commission has stated that discussions are underway with the ministries to select plans and programs for the budget for the upcoming fiscal year, focusing on the provisions of the ruling party's election manifesto, the 100 agendas related to governance reforms approved by the Council of Ministers' meeting on Chaitra 13, the good governance roadmap, and 2082.
