A missed opportunity

The budget for FY 2025-26 lacks reforms and direction to drive change in Nepal.

For the past 35 years, democratically elected leaders in Nepal have pledged to fulfil the aspirations of the people. Political parties routinely draft election manifestos with grandiose projections and ambitious promises. Each successive government tables programmes and policies for every fiscal year, outlining paths to take the country towards prosperity. Following these policy announcements, finance ministers present annual budgets, each claiming to offer a roadmap to transform Nepal’s economy. This tradition continued this year with Finance Minister Bishnu Paudel’s budget for fiscal year 2025-26.