Wednesday May 25, 2022
Wednesday May 25, 2022

Budget to be announced through ordinance

2021 May 23, 16:36, Kathmandu
This undated image shows the building of the Ministry of Finance in Singha Durbar, Kathmandu. Photo: RSS

Prime Minister KP Sharma Oli has stated that the annual budget will be announced through an ordinance. During a press meet in Baluwatar today, he mentioned that the budget will be announced through an ordinance on Jestha 15 (May 29).

The prime minister further said that the budget will focus on the policies that have already been announced previously. He added that emphasis will be laid on development works. However, PM Oli mentioned that the budget will be drafted by keeping COVID-19 and its impact at the centre of the policies and programmes.

Earlier on May 16, Prime Minister Oli had said that the budget will not be brought through an ordinance. He had mentioned this after holding talks with senior party leader Madhav Kumar Nepal.

At the time many people had been assuming that the budget could be introduced through ordinance since Oli had become the prime minister then through Article 76 (3) of the Constitution of Nepal. However, he had tried to dispel that assumption by stating that the Parliament was still alive.

However, now the political situation of the country has changed with President Bidhya Devi Bhandari dissolving the House of Representatives on Saturday and announcing the dates for the mid-term elections.

According to the provision of the Constitution of Nepal, the budget for the next fiscal year is supposed to be announced on Jestha 15 of the Nepali calendar. Moreover, pre-budget discussions in the Parliament must be completed 15 days prior to the budget announcement.

However, this year there has been no budget session called in the Parliament and no budgetary discussions have been held till date.

Prime Minister KP Sharma Oli Prez Bhandari Annual Budget Ordinance Press Meet covid-19 Constitution of Nepal House of Representatives Mid-term elections Budget Session fiscal year
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