Nepal's Fiscal Year Budget Secures House Endorsement

Nepal's House of Representatives has approved the government's budget for the fiscal year 2025-26 with a majority vote, enabling the execution of the Rs 1.964 trillion plan. The budget needed approval from at least 238 of the 275 members. Finance Minister Bishnu Prasad Paudel tabled the plan last month.

Nepal's House of Representatives greenlit the government's ambitious budget for the fiscal year 2025-26 via a majority vote on Tuesday, clearing the path for implementing the hefty Rs 1.964 trillion spending plan. Meeting chair Speaker Devraj Ghimire announced the Appropriation Bill's passing following a voice vote.

The budget endorsement required the approval of at least 238 lawmakers from the 275-member House. This marks a pivotal step in the country's financial planning cycle, crucial for executing government policies in the upcoming year.

The decision follows a detailed clause-by-clause deliberation by lawmakers. The budget proposal was initially presented by Finance Minister Bishnu Prasad Paudel last month as Nepal's fiscal year starts in mid-July.

(With inputs from agencies.)