Kathmandu, Mar. 28: The Ministry of Finance (MoF) has concluded discussions with 16 ministries regarding the formulation of budget for the upcoming Fiscal Year 2024/25. 

As part of this process, a discussion was held with the Ministry of Culture, Tourism, and Civil Aviation on Thursday, the MoF informed in a statement.

During these discussions, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel urged that policy shifts be prioritised over mere budget figures. 

According to the statement, he emphasised the core principles and spirit of federalism, the roles of the federal, provincial, and local governments, and the need to transfer programmes and projects currently under the federal government to the appropriate provincial and local levels. 

He noted that federalism cannot be strengthened if the federal government continues to carry out tasks meant for the provincial and local levels.

Likewise, DPM Paudel called for a review of all past programmes and plans, focusing on federal projects while discontinuing, reducing, or adjusting certain programmes. He stressed the importance of continuing only essential programmes and incorporating smart initiatives that align with the changing times and public needs. He also requested that projects costing less than Rs. 30 million should not be included in the budget.

Similarly, DPM Paudel highlighted the need to prioritise projects and programmes that are ready for study and implementation. He urged ministries to submit realistic proposals that do not require reallocation or adjustments in funds.

He assured that the upcoming budget would be disciplined and realistic, taking into account available resources while addressing public aspirations and national priorities.

About a couple of days ago, the MoF had held discussions with sectoral ministries, emphasising budget allocation and capital expenditure. 

The ministry has been conducting separate consultations with relevant ministries, and the National Planning Commission. It believes that better coordination among these three entities—ministries, the commission, and the MoF—will enhance a sense of ownership in implementation and yield better outcomes.

Previously, the MoF had held discussions with ministries related to physical and urban development, communications, education, defence, home affairs, sports, land reforms, agriculture, drinking water, federal affairs, industry, health, energy, and women and children. 

Further discussions will be conducted with the remaining ministries as part of the budget preparation process.