May 9: Nepal government is preparing to announce the national budget of the coming FY on Jestha 15 through consensus decision-making of all the political parties as per the constitutional provision. For that matter, the government has started discussion with various political parties. On the question “When will budget come?” asked by Abhiyan, a Prime Minister Office related source said “A draft budget might be announced on stipulated date.” As per the sub-section 3 of section 119 of the Nepali constitution, the government must announce the national budget on every Jestha 15.

However, the local level poll that is going to held after a long period in two stages has complicated the budget program. According to Election Commission of Nepal, it is not feasible to announce budget in midst of election program. Similarly, the opposition party has declared that the poll conducted after the budget announcement will be declined. However, economists are urging the government to bring the budget on the stipulated time stating that no one is above the constitution.

Dr Yubraj Khatiwada, former NRB Governor also stated that there is worldwide practice of holding election and bringing budget simultaneously. Thus, Nepal Government should also act as per the mechanism set by the constitution. He argued that detail plans and programs can be injected in the supplementary budget which will be announced later in order to maintain political balance. Presently, the financial market is in awe regarding the time bound of budget announcement as the stipulated time is really near.

Dr Shanta Raj Subedi, Finance Secretary has also said that the Finance Ministry is ready to bring the budget on stipulated time. “The government is working in a bid to bring the budget as per the constitutional mechanism,” he said. He opined that in order to stop the budget, constitution need to be amended, however, no such proposal has been submitted, thus, the government will bring the national budget on time.

National Planning Commission has given the ceiling of Rs 1156.40 billion for the budget of coming FY 2047/75. In the total budget, Rs 708.81 billion will be allocated to current expenses, Rs 330.64 billion will be allocated to capital expenditure and Rs 116.58 billion will be allocated to financial administration. According to the budget ceiling, Rs 843 billion will be generated from revenue and internal loan, Rs 102 billion will be generated from foreign grant and Rs 210 billion will be collected from foreign loans. However, the political parties have not engaged in discussion regarding the complication of time limit. Meanwhile, the Prime Minister’s Office ensured to give conclusion on the time limit within few days.