Finance Minister Defends Budget Allocation Amid Criticism in National Assembly
Finance Minister Barsha Man Pun emphasized that the upcoming fiscal year's budget was crafted in alignment with the government's policies, programmes, and international commitments. Addressing lawmakers' concerns during the National Assembly meeting on the Appropriation Bill for 2081-82 BS, Minister Pun highlighted that the government received constructive feedback on constitutional matters, the vision of the 16th plan, the achievements of the federal republic, and the priorities outlined in the Bill during the deliberations.
The Finance Minister outlined that the budget's primary goals are to institutionalize economic reforms, generate employment, enhance production, strengthen the economy, and achieve economic resilience. These goals are structured around five major objectives and transformational strategies.
However, several lawmakers raised concerns that the budget did not fully adhere to the constitutional spirit and government policies, particularly in areas such as strengthening federalism, prioritizing education, adequately funding agriculture, and promoting productivity.
In response to these concerns, Minister Pun asserted that the budget is balanced, considering the size of the Gross Domestic Product, public finance conditions, and historical budget speeches. He stressed that the budget is production-oriented rather than distributive.
The proposed total expenditure for the upcoming fiscal year is Rs 1,860 billion 300 million, marking a 6.2% increase compared to the current fiscal year. The Minister noted that while current expenditures have been reduced, capital expenditures have been increased. Furthermore, a fiscal handover of 30.5 percent, amounting to Rs 500 billion 67 million, has been allocated to the provincial and local levels.
Minister Pun highlighted that the increased budget allocation aims to strengthen the economy and encourage the private sector. The allocation to the provincial and local levels has been raised, reflecting the government's commitment to enhancing economic stability and growth across all regions.
