Nepal Prioritizes Finance Reforms and Investment in 2026-27 Budget

The Nepalese government has presented an ambitious budget of NRs 2.124 trillion for the fiscal year 2026-27, outlining a robust agenda centered on financial reforms and increasing foreign investments. The new budget proposal, representing a 25% rise from the prior year, signifies the first financial statement under Prime Minister Balendra Shah's administration.

Finance Minister Swarnim Wagle addressed the federal Parliament, revealing plans to augment government employees' salaries by 21% and easing income tax for earners below NRs 1 million monthly. Additionally, priorities include education, health, and infrastructure, with new initiatives supporting modern technology and AI integration. This budget aims to boost economic transition and elevate Nepal's status by potentially moving out of the United Nations' least developed country category.

(With inputs from agencies.)