Annual budget’s five objectives, 10 priorities


May 30, 2022


Annual budget’s five objectives, 10 priorities

KATHMANDU: The new annual budget tabled in the Federal Parliament today has fixed five objectives and 10 priorities.

Releasing the new budget, Finance Minister Janardan Sharma said stability, growth in productivity and employment, inclusive development, self-sufficiency, and economic prosperity are stated as the goals of the budget.

Gaining high and sustainable economic growth by preparing a production-based economy, employment creation, and poverty alleviation through the integrated mobilization of available natural resources, labor force, capital, and technology are the objectives of the budget.

Likewise, building a balanced, inclusive, self-sufficient, and socialism-oriented economy through economic and social transformation is also an objective of the new budget.

According to the Finance Minister, the budget’s priority is the transformation of the agriculture sector.

Growth in production and productivity in government, private and cooperative sectors’ partnership, employment creation and poverty alleviation, innovation-based local economic development, and human resource development are also prioritized in the budget.

Similarly, infrastructure development and capital formation, hydropower development, expansion of transmission grid and rural electrification, industrial development, investment promotion, recovery of the tourism sector and environmental conservation, disaster management, and climate change risk reduction are also other priorities of the annual budget.

Finance Minister Sharma stated that public service delivery, promotion of good governance, and periodic elections are also included as the priorities of the budget. The other priority of the budget includes scientific research and development.