Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said the government will allocate the upcoming fiscal year’s budget only for projects that are well-prepared and have a clear guarantee of results.

While presenting the principles and priorities of the budget in the House of Representatives, Minister Paudel stated that projects will undergo re-prioritization, and budget allocations will be made accordingly. “Irregularities in public finance will be eliminated. Capital expenditure will be guided by project readiness and investment modality,” he said.

He also emphasized the need for effective revenue mobilization to ensure balanced public finance, sustainable resource generation, and proper utilization of public debt.

For balanced and inclusive development, Finance Minister Paudel said the federal government will strengthen coordination among the three tiers of government. He also pledged to give continuity to legal, institutional, and procedural reforms to promote private sector development.

To create an investment-friendly environment, the government plans to implement a one-door service system, said Finance Minister Paudel adding irregularities related to land ceilings, forest area use, tax discounts, and profit repatriation would be addressed to remove investment barriers.

On social welfare, he said social security schemes would be made fair and target-based on socio-economic deprivation. These schemes would be integrated with the National Identity Card to prevent duplication.

The next meeting of the House of Representatives will be held on Tuesday. -- RSS