By Our Reporter
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel is tabling the budget for the fiscal year 2025/26 in the joint session of the Parliament on Thursday (May 29.
The budget is being presented amid the deteriorating national economy. The situation is such that the government is failing to manage the budget even for the recurrent expenditure as the expenses have skyrocketed after the country adopted federalism. The government is under pressure to manage funds to continue the development projects and hike the pay of the government employees.
The national economy affected by the Russian invasion of Ukraine in 2022 has not returned to its natural course. The scars of the COVID-19 pandemic are still there to address. National production is sinking with many industries failing to continue their products. The contractors have not been paid for the work they completed for two years. The government needs funds to manage these all. Moreover, sources of foreign grants have almost dried up after Donald Trump’s election as the US president. As a result, the nation is ever-swelling.
As such, the new budget has to pave the way for activating the economy, but the chances for revitalising the budget seem slim.
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