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Started 3 days ago · Updated 23 hours ago

Nepal Prepares Record Budget Under PM Balen Shah Amidst Economic Challenges

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Nepal is preparing to present a record-sized budget for the upcoming fiscal year 2083/84, significantly exceeding recommendations and signaling a shift towards state-led development under Prime Minister Balen Shah's administration. Finance Minister Swarnim Wagle is under pressure to balance economic constraints with ambitious goals, with the budget expected to prioritize good governance, economic reforms, and job creation.

• The proposed budget is nearing Rs 24 trillion, substantially larger than the previous year's Rs 19.64 trillion and exceeding the National Planning Commission's recommended ceiling.
• Prime Minister Balen Shah is pushing for a bold, large-scale budget to transform the country, advocating for the state to directly initiate and lead major infrastructure projects.
• The budget is expected to include populist programs and a nationalist tone, potentially reviving defunct state-owned industries.
• Finance Minister Swarnim Wagle is also preparing to announce a salary increase for civil servants, potentially by at least 15 percent, for the first time in four years.
• The government aims to implement good governance through enhanced digital public service delivery and is prioritizing economic reform, connectivity, and human capital development.