KATHMANDU: Ministry of Finance has accelerated preparations for the upcoming fiscal year budget following the government’s decision to convene both houses of the Federal Parliament on May 11.

The budget session of Parliament will discuss the government’s policies and programmes, while Finance Minister Swarnim Wagle is scheduled to present the national budget for the next fiscal year on May 11 during a joint session of the Federal Parliament.

Parliament Secretariat spokesperson Ekram Giri said necessary preparations for the budget session are underway.

The government says this year’s budget will be “transformational,” with a focus on revitalising the economy and pushing reforms into a new phase.

Finance Minister Wagle has already held discussions with ministers, secretaries, lawmakers and other stakeholders regarding budget priorities.

The National Planning Commission has proposed a budget ceiling of Rs 1.89 trillion for the upcoming fiscal year.

A budget drafting committee led by Joint Secretary Uttar Khatri was formed in March to prepare the appropriation bill draft.

The government has indicated that small-scale projects will not receive budget allocations this time, urging lawmakers to avoid excessive lobbying for local schemes. Instead, ministries will be required to submit plans directly for evaluation and inclusion in the budget.

Lawmakers have also urged the government to prioritise remote and underdeveloped regions. The budget is expected to reflect commitments mentioned in the ruling Rastriya Swatantra Party’s policy document, with clearer division of budget responsibilities among federal, provincial and local governments.

The government is also considering measures to end the long-standing practice of local representatives repeatedly visiting federal ministries seeking funds and approvals.

Proposals and demands raised by lawmakers will instead be submitted to ministries in written form, with the ministries themselves determining project priorities.