Nepal's Fiscal Year Budget Secures House Endorsement

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.)