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The government plans to create a high-level advisory committee tasked with evaluating the applicability of a multi-rate system in VAT and provide recommendations accordingly.

Presenting the budget for the fiscal year 2026/27 at the joint session of the Federal Parliament today, Finance Minister Dr Swarnim Wagle announced significant reforms in the tax system, sharing that the approach of transforming tax administration from a punitive entity to a partner in development.

Furthermore, he noted that to foster a tax-payer-friendly environment, a special discount and concession scheme has been introduced to address long-standing tax disputes. In instances of tax disputes pending before the courts or other judicial entities involving the government or the taxpayer, if an additional one percent is added to the specified tax amount and submitted within the designated timeframe, the case will be dismissed, and all fees, fines, additional penalties, late fees, and interest will be waived.

Referring to the reduction of the number of federal ministries from 22 to 18, Dr Wagle said the resources saved from the reduction of such ministries, departments, offices, and positions will be allocated to improve administrative efficiency.

Under this new arrangement, 31 agencies will be dissolved, six agencies will be merged, six agencies will be relocated, and 18 agencies will undergo restructuring. With the objective of making the bureaucracy more efficient and accountable, the government has committed to continuously enhancing the benefits for civil, military, police, and teaching services in a dignified manner. According to the finance minister, it is estimated that this move will save Rs 20 billion.

The budget also prioritizes the control of general expenditure as a significant focus.

The government has allocated Rs 4.3 billion for the sports sector.

Presenting the budget for the fiscal year 2083/ 84, Finance Minister Swarnim Wagle said that the priority has been given to infrastructure development.

Minister Wagle said that 10 football stadiums with a capacity of 8,000 spectators will be constructed within three years. Similarly, modern cricket stadiums will be built in eight major cities within five years.

The government has allocated Rs 85.54 billion for the construction of energy generation, transmission, and distribution lines in the coming fiscal year.

Finance Minister Dr Swarnim Wagle said so while presenting the budget for fiscal year 2083/84.

Finance Minister Dr Swarnim Wagle has expressed his hope that the budget for the upcoming fiscal year will set a standard for good governance.

Commencing the budget speech for the fiscal year 2083-84 BS (2026-27) before a joint session of the Federal Parliament a while ago, the Minister said the upcoming budget will bring transformations in policies, laws, institutions, procedures and leadership, thus establishing good governance.

"An end to policy indecisions, the culture of dilly-dallying, capture of institutions and exploitation of state resources and establishing result-oriented governance is the prime need of the hour," the Minister said. 

Stating that the nation is in the decisive juncture of comprehensive economic reforms, he said the budget is centered on massive reforms in economy and the establishment of good governance.  As he said, the budget is primarily focused on production-based economy, good governance and technology-friendly development.

He said that the public mandate to the incumbent government is considered as an extra-ordinary responsibility, he said the government is moving towards the direction of bringing transformation in the state's characteristics, governance culture and the form of economy.

The Minister claimed that this time's budget has been presented as a reliable document for policy transformations instead of limiting it as an official statement.

Information and communications, artificial intelligence, finance, trade, investment and collective capacity of Nepali communities that spread across the globe have been presented as major bases for economic transformations. He said the government aims to build a new structure for coordinated economic growth through the proper utilization of new technology.

The government has allocated a budget of Rs 17.64 billion for the Kathmandu-Tarai Expressway.

Finance Minister Dr Swarnim Wagle said so while unveiling the budget for the fiscal year 2083/84.

The government has said that the East-West Highway will be upgraded into a four-lane highway within three years.

Unveiling the budget for the upcoming fiscal year, Finance Minister Swarnim Wagle said that a budget of Rs 37.46 billion has been allocated for the purpose.

The government has decided to divide Nepal Electricity Authority into three companies.

Finance Minister Dr. Swarnim Wagle said so while presenting the budget for the fiscal year 2083/84.

The government has introduced a plan to scrap 31 agencies and restructure 18 agencies.

Presenting the budget for the fiscal year 2083/84 at a joint meeting of both houses of the Federal Parliament today, Finance Minister Dr Swarnim Wagle said that 31 agencies will be scraped, six agencies will be merged, six agencies will be transferred, and 18 agencies will be restructured.