Kathmandu: The Ministry of Finance has initiated preparations for the upcoming fiscal year 2082/83 by setting a budget calendar and working on budget estimates. The process is being carried out within the framework provided by the National Resource Estimates Committee, according to Shyam Prasad Bhandari, spokesperson for the Ministry of Finance.

"The Resource Estimates Committee has set a budget ceiling of approximately Rs 1900 billion, and budget ceilings have also been allocated to all ministries," Bhandari told RSS. As part of the process, ministries must submit policy details, programs, and key indicators to the Ministry of Finance and the National Planning Commission by mid-April.

Discussions on budget policies and programs will commence in the National Planning Commission from the first week of April. Additionally, the Intergovernmental Fiscal Council will convene by mid-April, followed by provincial-level discussions with Members of Parliament (MPs) on the objectives, priorities, and main programs of the budget. Consultations will also be held with representatives from political parties, former finance ministers, former governors, former finance secretaries, economists, and other experts to ensure a well-rounded budget for the upcoming fiscal year.

According to the budget calendar, a draft of the principles and priorities of the appropriation bill will be submitted to both houses of the federal parliament by the end of April. The official budget presentation for fiscal year 2082/83 will take place on Jestha 15 of the lunar calendar in a joint session of Parliament.

Spokesperson Bhandari further stated that a five-member budget drafting committee has been established under the leadership of Shree Krishna Nepal, Chief of the Budget Division at the Ministry of Finance. Similarly, a Revenue Advisory Committee has been formed under the coordination of Revenue Secretary Dinesh Kumar Ghimire to oversee revenue-related matters.