Nepal, Sept. 14 -- The Covid-19 pandemic has thrown a curveball to the global economy in the most unexpected fashion. Trade, travel, tourism, you name it, have all been adversely impacted. Well-heeled businesses have suddenly ceased to operate, people's livelihoods have been thrown into disarray and the government's revenue sources have taken a hit on multiple fronts. Rich countries, poor countries-no one is spared. Fiscal deficit has become the norm, even as governments whose accounts were already awash in red ink are having to run a bigger deficit. It is a double whammy-receipts are down while expenditures are up. The resulting mismatch is forcing many governments into a budgetary juggling act. Nepal is not an exception.

Last fiscal, t...