Finance Committee suggests to bring 175 bln stimulus package

Khabarhub

May 22, 2020

< 1 MIN READ

Finance Committee suggests to bring 175 bln stimulus package

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KATHMANDU:  Financial Committee of the federal parliament has advised the government to bring a stimulus package worth Rs 175 billion through the upcoming fiscal budget.

The parliamentary committee has suggested that the government allocate the five percent of the total budget to address the current economic crisis caused by the Coronavirus.

According to the Committee, the size of the upcoming budget will reach around Rs 17 trillion while the budget of the last fiscal year was put at Rs 15.32 trillion.

The Committee has advised to allocate around 45 percent budget of the Gross Domestic Product so as to  give continuity to the ongoing programs and to provide relief to the Coronavirus-hit areas.

Meanwhile, it has directed the government to plan to collect Rs 10 trillion in revenue without increasing the taxation rate in the upcoming fiscal year.

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