Preparations Underway for 2083/84 Fiscal Year Budget

Kathmandu, Jan 17 – The process of formulating Nepal’s budget for the upcoming fiscal year 2083/84 is now underway. The National Planning Commission (NPC) has reported that the National Resource Estimation Committee has begun its work to identify potential revenue sources and set expenditure limits for the new budget.

Under Section 7 of the Financial Procedure and Fiscal Responsibility Act, 2020, the government must estimate available resources and expenditure limits while preparing the annual budget. In coordination with the Ministry of Finance, the NPC is tasked with making preliminary estimations of revenue and expenditure for the next three years to guide the medium-term expenditure framework and the upcoming fiscal year’s budget and programs.

The committees are expected to complete this work by February 15 (end of Magh). A technical committee has also been formed to support the Resource Estimation Committee and has already begun its initial work. “The technical team has started analyzing macroeconomic indicators and requested relevant data from the Nepal Rastra Bank, National Statistics Office, Ministry of Finance, and other ministries,” said NPC Secretary Rabi Lal Panth. Preparations are ongoing for the Resource Estimation Committee’s upcoming meetings.