New budget should prioritize production, job creation: Oli

KATHMANDU: Prime Minister KP Sharma Oli has directed officials to prepare the budget for the upcoming fiscal year with a focus on boosting production and employment, aligning it with the needs and priorities of the people.

During a discussion at the Office of the Prime Minister and Council of Ministers on Thursday, the Prime Minister emphasized the need for a concrete plan to enhance production and job creation in the forthcoming budget.

Ministers and secretaries from all ministries participated in the discussion.

He instructed officials to prioritize peace and security, eradicate corruption and ensure good governance by delivering efficient services to the public.

The government is required to present the budget in the federal parliament on May 29, as per the constitution. Before that, it needs to table the government’s policies and programs for discussion in parliament.

“There can be no compromise on maintaining good governance,” Oli stated. “If irregularities are found in revenue collection, those involved must face immediate action. Only with sufficient revenue can we invest in people-centric development.”

Oli also said the existing trend of drafting budgets without a solid resource base must end. “Budgets should not be influenced by biases or prejudices but should focus on people-centered development, current needs, and priorities to boost production and employment,” he added.

Speaking on the occasion, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel assured that the budget would be formulated based on established methods and standards. He added that the ministry was consulting relevant stakeholders and collecting suggestions as needed for the budget.