Banking News – Finance Minister Dr. Swarnim Waglé has urged government agencies to resolve the policy and legal complexities surrounding the economic reform measures announced in the FY 2026/27 (2083/84 BS) budget through a mission-mode approach.

Speaking at a meeting held at the Ministry of Finance to discuss the implementation of budget reforms related to the Ministry of Industry, Commerce and Supplies, the finance minister stressed the need to accelerate legal and policy reforms.

The meeting, attended by Minister for Industry, Commerce and Supplies Gauri Kumari Yadav, focused on preparing a time-bound action plan for implementing reforms in the industrial, trade, and supply sectors.

Dr. Waglé noted that a significant portion of the economic reform agenda announced in the budget falls under the jurisdiction of the Industry Ministry. He emphasized the importance of strengthening coordination between the two ministries to remove implementation bottlenecks.

“The Industry Ministry should move forward with the policy and legal reforms announced in the budget with urgency,” Dr. Waglé said. “Let us know what additional support is required from the Ministry of Finance, whether in terms of experts, resources, or technical assistance.”

He also stressed that key legal reforms needed to improve the investment climate, facilitate trade, and attract foreign investment should be completed within the next few weeks.

Addressing the meeting, Industry, Commerce and Supplies Minister Gauri Kumari Yadav said the ministry has already begun preparatory work to implement the reform agenda outlined in the budget. She added that close coordination and technical support from the Ministry of Finance would be essential for successfully implementing reforms within the ministry’s jurisdiction.

“The budget includes eight reform initiatives under the Ministry of Industry,” she said. “Work has already begun on some of them, while others are in the implementation pipeline.”

The current fiscal year’s budget includes eight legal and policy reform initiatives under the Industry Ministry. These include amendments to the Companies Act and insolvency-related legislation, as well as the drafting of new laws on debt recovery and intellectual property protection, among other reforms.

Following the implementation of the new budget, the Ministry of Finance has also introduced a regular monitoring schedule under which responsible ministries will be required to report on the progress of budget implementation and reform measures.