Finance minister to present executive budget proposal to Federal Parliament today

KATHMANDU: Finance Minister Dr Swarnim Wagle is set to present the Executive Budget Proposal for fiscal year 2026/27 at a joint sitting of the Federal Parliament this afternoon.

Under the constitution, the national budget is to be unveiled in parliament on Jestha 15, and the government’s estimates of annual income and expenditure will be tabled in the joint session. The Ministry of Finance (MoF) has prepared the proposal with an emphasis on revitalising the economy, restoring private sector confidence, increasing capital expenditure and expanding employment opportunities.

A senior official at the MoF said the budget is expected to range between Rs 1,890 billion and Rs 2,000 billion and will place strong emphasis on promoting good governance alongside economic recovery. The National Planning Commission had earlier set a budget ceiling of Rs 1,890 billion for the coming year.

However, the National Revenue Estimates Committee raised that ceiling after the government requested a review, citing difficulties in preparing the budget within the original limit. Officials said the estimates were drawn up based on the government’s 100-point action plan for governance reform, existing policies and programmes, and the priorities and principles outlined in the Appropriation Bill before parliament.

Inputs and deliberations from lawmakers in both Houses, together with the government’s roadmap for good governance, economic reforms, production enhancement and improved service delivery, were central to budget planning, officials added.

Preliminary discussions indicate that the package will include an increase in government employees’ salaries, a review of certain tax rates, and industry-friendly measures to encourage productive sectors. Priority has been given to information technology, small and medium-sized enterprises and investment promotion, officials said.

(With inputs from RSS)