Finance Minister Dr. Swarnim Wagle Presents Budget Today

Kathmandu. Focusing on good governance and economic revival, Finance Minister Dr. Swarnim Wagle is presenting the income and expenditure details for the upcoming fiscal year in the joint meeting of the Federal Parliament today.

As per the provision in the Constitution of Nepal to present the budget for the upcoming fiscal year on Jestha 15th of every year, the income and expenditure details are being presented in the parliament.

A senior official from the Ministry of Finance informed that the government is preparing to present a budget of approximately Rs 1890 billion to Rs 2000 billion, focusing on making the economy dynamic, boosting private sector morale, expanding capital expenditure, and creating employment. He stated that the budget will be made public focusing on good governance and economic revival.

The National Planning Commission had suggested the government prepare a budget of approximately Rs 1890 billion for the upcoming fiscal year. Since it would be difficult to prepare the budget within the limit set by the commission, the National Resource Estimation Committee increased it after the government requested a review.

The budget has been prepared based on the government's 100-point action plan for governance reform, the government's policy and program, and the priorities and principles of the appropriation bill presented in the parliament.

It is stated that the suggestions given by the members of parliament in both houses of the Federal Parliament, the government's roadmap for good governance, economic reform, production increase, and service delivery have been kept at the center of the budget.

There is discussion that the budget will also include programs for salary increase for government employees, review of some tax rates, industry-business friendly policies, and promotion of productive sectors. It is stated that priority has been given to information technology, small and medium-sized industries, and investment promotion.