Budget termed balanced from all quarters: Finance Minister

KATHMANDU, JUNE 2: Finance Minister Barsha Man Pun has said the budget for the upcoming fiscal year was presented amidst much uncertainty.

Presenting a proposal to commence the general deliberations on the government’s income (revenue) and expenditure estimations for the upcoming fiscal year 2024-25 in the National Assembly today, the Minister said the budget is based on the submissions and feedback of lawmakers. Similarly, submissions from various sectors were sought regarding it, he added.

Finance Minister Pun said Prime Minister Pushpa Kamal Dahal ‘Prachanda’ and CPN (UML) Chair KP Sharma Oli had worked continuously to facilitate the atmosphere for bringing the budget.

The Minister informed the upper house that the need to alleviate frustrations among the youth and boost the confidence of the private sector was highly acknowledged during the budget formulation process. The inflation has reached the minimum point, he said, adding that the budget aims to control the pressure of price hikes on the kitchen economy.

According to the minister, the budget for the upcoming fiscal year has been termed balanced from all quarters and was presented with the shrunken national resources in mind.