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By Dipesh Ghimire

Bishnu Prasad Paudel: A Veteran Political Leader Steering Nepal's Economic Reforms

Bishnu Prasad Paudel: A Veteran Political Leader Steering Nepal's Economic Reforms

Bishnu Prasad Paudel, a seasoned leader of the Communist Party of Nepal (Unified Marxist–Leninist), currently serves as Nepal's Deputy Prime Minister and Minister of Finance. With a political career spanning over four decades, Paudel has held several key ministerial positions, including Finance, Defence, Home Affairs, and Energy, Water Resources, and Irrigation.

Early Life and Political Inception

Born on November 20, 1959, in Syangja District, Paudel began his career as a schoolteacher in Rupandehi after completing his School Leaving Certificate (SLC) in 1977. Influenced by communist ideologies, he joined the Communist Party at the age of 18. His early political activism during Nepal's Panchayat era led to multiple imprisonments, including a notable escape from Bhairahawa Jail, underscoring his commitment to political change.

Political Trajectory and Ministerial Roles

Paudel's political journey is marked by significant electoral successes. He was first elected to the House of Representatives from Palpa-3 in 1994 and has since represented Rupandehi-2 in multiple terms. Notably, in the 2013 Constituent Assembly elections, he defeated former Prime Minister Baburam Bhattarai in Rupandehi-4.

Throughout his career, Paudel has held various ministerial positions:

  • Finance Minister: 2015–2016, 2020–2021, 2022–2023, and currently since July 2024.

  • Deputy Prime Minister: 2021, 2022–2023, and currently since July 2024.

  • Defence Minister:

  • Home Affairs Minister:

  • Minister of Energy, Water Resources, and Irrigation: 1994–1999, 2008–2009, and 2021.

Economic Reforms and Fiscal Policies

As Finance Minister, Paudel has been instrumental in implementing economic reforms aimed at revitalizing Nepal's economy. In the wake of the COVID-19 pandemic, he introduced measures such as subsidized credit facilities for affected businesses, reduction in stock brokerage commissions, and removal of customs duties on book imports.

In May 2025, Paudel presented the national budget for the fiscal year 2025–26, emphasizing immediate implementation to stimulate economic growth. He highlighted the need for increased capital expenditure, controlled current spending, and enhanced financial transfers to provincial and local governments. Addressing the Kantipur Economic Summit 2025, Paudel reaffirmed the government's commitment to creating a conducive environment for private investment. He acknowledged that while initial reforms have been undertaken, sustained efforts are necessary to restore business confidence and achieve tangible results.

Representing Nepal on global platforms, Paudel participated in the 2024 Annual Meeting of the World Bank Group and the International Monetary Fund. He advocated for structural reforms to encourage domestic and foreign investments, emphasized the importance of fiscal discipline, and called for enhanced support to low-income countries to bridge development gaps.

Bishnu Prasad Paudel's extensive experience and steadfast leadership have positioned him as a pivotal figure in Nepal's political and economic landscape. His ongoing efforts to implement fiscal reforms and promote sustainable economic growth reflect his dedication to steering the nation towards prosperity.

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