Kathmandu: In a bid to energize Nepal's economy and foster long-term growth, the government has announced a series of major initiatives as part of the national budget for the upcoming fiscal year 2082/83. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel presented these plans during a joint session of both houses of the Federal Parliament.

A key priority for the government is removing Nepal from the Financial Action Task Force's (FATF) grey list, which monitors countries at risk of money laundering. Finance Minister Poudel stressed that this move would enhance economic credibility and improve international financial confidence in Nepal.

The government also plans to leverage the encouraging results from Nepal’s first sovereign credit rating to attract foreign capital. Poudel announced additional economic reform measures will be introduced to secure an even higher credit rating in the near future.

In a significant policy shift, the government will focus public investment on high-return sectors while encouraging private sector participation through capital infusion and technological collaboration. Legal reforms introduced through ordinances have already boosted private sector confidence, and further reforms are planned based on the recommendations of the High-Level Economic Reforms Advisory Commission, 2081.

To meet Nepal’s development goals and transition to a developing country by 2026, the government aims to diversify financial resources, strengthen the revenue system, and professionalize revenue administration. Public debt will be mobilized only in high-yield areas, and unproductive projects will be cut. Emphasis will be placed on result-oriented initiatives and the use of innovative financing mechanisms to bridge funding gaps.

Trade balance improvement is another major focus, with the government planning to increase exports of competitive goods and services while encouraging domestic production of key consumer goods. To reduce reliance on foreign employment, skilled and experienced Nepalis working abroad will be encouraged to return and engage in entrepreneurship or self-employment.

The budget also places youth at the center of economic transformation. Innovation and entrepreneurship programs targeted at young people will be prioritized to generate employment and harness the nation’s demographic dividend.

Minister Poudel concluded by asserting the government’s commitment to bringing tangible change to the lives of citizens. He stated that the goal is to build upon recent economic gains, dispel public disillusionment, and restore national optimism through sustained progress and reform.