Experts React to Nepal’s Budget for 2082/83 BS

Finance Minister Bishnu Poudel presented a budget of Rs. 964 billion for the fiscal year 2082/83 BS in the federal parliament on Thursday. While the government aims to ensure revenue sources of more than 13 trillion rupees, many believe the pressure is on the government to effectively implement the budget.

Kapil Bhandari from Deshsanchar sought reactions from industry experts on the new budget.

Bhuwa Kumar Dahal, former CEO of Sanima Bank, says, “This is not just about this year’s budget— even in the past, just looking at the budget has never excited me. If we truly focus on getting things done properly, we can attract investments and achieve more than 10% growth. For this, we need significant reforms in the political and administrative sectors. It’s also necessary to introduce a transparent performance appraisal system, with rewards and punishments based on results. Unless we make politicians and bureaucrats accountable with an effective performance appraisal system, Nepal’s development is just a daydream. We also need drastic reforms in the judiciary, election system, and CIAA to reduce corruption, which is the first step toward the country’s economic and social development.”

Manoj Gyawali, Senior Deputy CEO of Nabil Bank, shared a view. “Current expenses and interest costs seem realistic. Revenue collection is a bit aggressive. The increase in both the amount and percentage of capital expenditure is encouraging, though I doubt the government will fully and timely spend the allocated capital budget. The tax holiday for new start-ups with over Rs. 10 crore turnover for five years is a positive step. Overall, the changes are as expected, but timely implementation is crucial. If monetary policy aligns with the budget, these targets can be achieved,” he said.

As Nepal moves forward with this new budget, experts highlight that effective implementation, accountability, and reforms are essential to translate numbers into real development.