Kathmandu. Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the budget has been formulated in line with the core values of democracy and republicanism.

Responding to questions raised by lawmakers during a session of the National Assembly, Finance Minister Paudel clarified that the budget was not prepared arbitrarily, but within a structured system.

He emphasized that the budget is not just a ritualistic exercise but is based on facts and will be implemented once it is passed by the Parliament.

Minister Paudel stated that the government is mindful of keeping the debt level under control and is focused on ensuring that loans are utilized efficiently in productive and capital expenditures.

To achieve the revenue targets, he said the government would work on expanding the tax base, curbing leakages, enhancing the use of information technology, and strengthening revenue administration.

Highlighting the need for Nepal to exit the grey list and take strong steps against money laundering, Paudel mentioned that the threshold for luxury tax has been removed. He also said that discussions are ongoing regarding complaints from gold jewelry traders and expressed hope that a common understanding would be reached through dialogue.

He further noted that the suggestions provided by lawmakers during the budget formulation process were taken into consideration.