KATHMANDU: The Ministry of Finance has formally initiated preparations for the budget of the upcoming fiscal year 2083/84, constituting a five-member Budget Drafting Committee to accelerate the process.

The committee, coordinated by Joint Secretary Uttarkumar Khatri, has been tasked with preparing the initial draft of the national budget. It comprises senior officials from key divisions within the ministry, including Dr Suman Dahal, head of the Budget and Program Division; Dr Dhaniram Sharma, head of the International Economic Cooperation Division; Mahesh Bhattarai, head of the Economic Policy Analysis Division; and Sewantak Pokharel, head of the Financial Federalism Coordination Division.

The committee has been given a mandate to collect policy recommendations, prioritize projects, and prepare the draft of the Appropriation Bill within the next six weeks.

In line with the Financial Procedures and Fiscal Responsibility Act, the government is constitutionally required to present the budget in Parliament on Jestha 15 (May 29,2026). Following this timeline, the Finance Ministry has instructed the committee to prepare the draft budget statement accordingly.

The government has identified the mobilization of foreign aid and the effective implementation of fiscal federalism as key challenges in this year’s budget formulation. Given their respective portfolios, committee members Dr Sharma and Pokharel are expected to play a crucial role in shaping policies related to external financing and federal coordination.

The government has repeatedly stated that the upcoming budget will aim to revitalize the sluggish economy and restore confidence in the private sector through targeted programs and policy measures.