Kathmandu: Budget for the upcoming fiscal year 2024/25 is set to be unveiled on Tuesday, May 28, at 1:00 PM. Speaker Devraj Ghimire announced this pivotal event during a House of Representatives meeting held on Sunday.
The Speaker confirmed that a joint session of the Federal Parliament has been convened for the specific purpose of presenting the annual estimate of revenue and expenditure of the government. The session is scheduled to commence promptly at 1 o’clock on Tuesday.
Ahead of the session, Speaker Ghimire issued a call to all members of the House of Representatives, urging their punctual attendance at Parliament by 12:45 PM.
This constitutional obligation finds its roots in Article 119, mandating that the budget must be formally presented at a joint assembly of the Federal Parliament on May 28. Finance Minister Barshaman Pun is entrusted with the responsibility of delivering the budget speech, outlining the government’s financial plans for the coming fiscal year.
Notably, this year’s budget presentation marks a departure from the norm, as previous years witnessed the budget being tabled in parliament during the afternoon hours. However, in a departure from tradition, the parliamentary session is set to convene earlier, underscoring the significance of this fiscal announcement. Stay tuned for live updates as the budget unveiling approaches.