Kathmandu: Former Finance Minister Varshman Pun has criticized the government for unnaturally inflating the size of the national budget for the upcoming fiscal year.
Providing his preliminary reaction to journalists at Singha Durbar, Pun argued that the scale of the financial plan is unrealistic and unsustainable. He claimed that the budget directly contradicts the election manifestos and public vows of the ruling Rastriya Swatantra Party (RSP), suggesting a significant departure from the principles the party championed to gain power.
Pun accused the government of introducing a distributive and populist budget with the primary intention of influencing public sentiment ahead of the upcoming local elections. He suggested that the ruling party is operating under a defensive psychology, fearing that the current anti-establishment wave against traditional parties might fade over time.
According to Pun, the administration is attempting to secure its local voter base through widespread spending and handouts rather than focusing on sound economic management.
The former minister also expressed deep dissatisfaction regarding the lack of substantial initiatives for the agricultural sector, which remains the primary livelihood for two-thirds of the country’s population.
He further alleged that while the ruling party ascended to power on the promise of creating massive employment opportunities for the youth, the budget fails to deliver any concrete programs to address the job crisis.
He characterized the fiscal strategy as an unsustainable “living beyond one’s means” approach, where the government is relying on heavy debt to fund consumption-oriented programs rather than productive investments that could ensure long-term stability.
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