Minister Khatiwada presents budget for fiscal year 2019/20

Kathmandu–The government today brought the budget for the fiscal year 2019/20 in the joint meeting of the federal parliament (House of Representatives and National Assembly). Minister for Finance Dr Yubaraj Khatiwada read out the budget speech.

The constitution of Nepal stipulates that the budget should be presented in the federal parliament in the mid of Nepali month Jestha.

Speaker of the House Krishna Bahadur Mahara had given consent to the Finance Minister to present the budget immediately after the meeting commenced.

The government too has to present the details about the progress and developments achieved or not achieved as per the budget allocated to the each ministry in the previous fiscal year.

This is the second federal budget presented by Minister Khatiwada. Various media, including state-owned Radio Nepal and Nepal Television have been live streaming the budget presentation since 4 pm today.

Media persons were also convened in high number in the Parliament Building at New Baneshwor to cover the event.

According to the Parliament Secretariat, the representatives from the foreign diplomatic missions were not invited to the event in following the previous practice.

The designated representatives from the business community in Nepal were, however, invited to the budget presentation.