Nepal’s FY 2082/83 Federal Budget: Where Are We Headed?

Nepal’s Federal Budget for FY 2082/83, presented by Finance Minister Bishnu Prasad Paudel, arrives at a critical juncture marked by sluggish economic growth, persistent inflation, and structural fiscal rigidities. With a record outlay of NPR 1.96 trillion, the budget aspires to stimulate capital formation, promote export-oriented industries, and modernize key sectors like agriculture, energy, and digital services. However, the persistence of high recurrent expenditure, reliance on domestic borrowing, and an ambitious revenue target raise concerns over implementation capacity and fiscal sustainability. This article dissects the opportunities, contradictions, and macroeconomic implications embedded in the new fiscal roadmap.