The Ministry of Finance has finalized the budget calendar for the upcoming fiscal year 2025/26 and has started preparing budget estimates accordingly.

The budget formulation process is progressing within the ceiling set by the National Resource Estimates Committee of the National Planning Commission, Spokesperson for the Ministry of Finance Shyam Prasad Bhandari told RSS.

"The committee has set a budget ceiling of around Rs 1900 billion, and we have allocated ceilings to all ministries accordingly," said Bhandari.

Ministries must submit details of policies, programs, and key indicators to be included in the budget to the Ministry of Finance and the National Planning Commission by mid-April. The National Planning Commission will begin discussions on budget policies and programs in the first week of April.

Similarly, the Intergovernmental Fiscal Council will convene by mid-April, followed by provincial-level discussions with MPs on the budget’s objectives, priorities, and key programs. Consultations will also be held with representatives of political parties, former finance ministers, former central bank governors, former finance secretaries, economists, and other experts.

According to the budget calendar, a draft of the principles and priorities of the appropriation bill will be submitted to both houses of the federal parliament by the end of April. The full budget for fiscal year 2025/26 will be presented in the joint session of parliament on Jestha 15 (May 29).

Spokesperson Bhandari also stated that a five-member budget drafting committee, led by Shree Krishna Nepal, chief of the Budget Division at the Ministry of Finance, has been formed. Additionally, a Revenue Advisory Committee has been established under the leadership of Revenue Secretary Dinesh Kumar Ghimire. -- RSS