Nepal’s Finance Minister Bishnu Prasad Poudel has announced that the fiscal year 2025/26 budget is realistic and reform-oriented. The budget was prepared to reflect the country’s true economic situation rather than being driven by popularity or short-term political gains. At a recent event in Kathmandu hosted by the Economic Media Society of Nepal, Poudel explained that the budget aims to manage resources wisely and control public spending while encouraging private sector growth.
The government’s plan emphasizes better use of public funds, support for investment, job creation, and improving local production. Instead of making promises that cannot be fulfilled, the budget focuses on long-term goals like boosting the economy and maintaining fiscal discipline. This approach marks a shift away from past budgets that prioritized quick wins over sustainable development.
The budget includes efforts to increase private sector confidence by reducing bureaucratic hurdles and improving access to credit. It also aims to create more employment opportunities, especially for young people and rural populations. By encouraging production within the country, Nepal hopes to reduce its dependence on imports and build a stronger economy.
Public response to the new budget has been mostly positive, with many people supporting the government’s focus on realism. Finance Minister Poudel has stated that the main challenge now is to implement the budget effectively. Success will depend on cooperation between government agencies and the private sector.
Nepal’s economy has faced difficulties in recent years, including high unemployment, lower remittances, and growing debt. The COVID-19 pandemic worsened these problems, making reform more urgent. This budget aims to address these issues by focusing on sustainable growth and better fiscal management.
The coming months will show how well the budget’s goals are achieved. The government has promised to provide regular updates and maintain transparency. If implemented properly, this budget could help Nepal build a more stable and prosperous future.
