KATHMANDU: The government has officially designated the upcoming fiscal year as the period for economic reforms.
Unveiling the budget for the fiscal year 2081-82 (2024/025) on Tuesday, Finance Minister Barshman Pun announced the onset of an era focused on economic transformation.
Minister Pun emphasized the growing confidence within the private sector and highlighted promising indicators of economic advancement.
He said that the government would take necessary steps by establishing a commission aimed at boosting the country’s economy.
Meanwhile, the government has projected an economic growth of 3.9 percent for the fiscal year 2024/25.
Unveiling the budget, Finance Minister Pun stated that Nepal will witness an economic growth rate of 3.9 percent.
Finance Minister Pun disclosed the government’s focus on five key areas for economic reform in the budget presentation for the financial year 2081/82 during a joint session of the Federal Parliament.
These include economic reform and promotion of the private sector; agriculture, energy, information technology, industrial promotion, and infrastructure development; education, health, and social service enhancement; inclusivity and social education; and good governance.
In his budget speech, Finance Minister Pun announced the creation of an Economic Reform Suggestion Commission with the goal of bolstering the economy.
Minister Pun emphasized the longstanding challenges facing the economy and highlighted the necessity of a dedicated commission to address them and foster economic improvement.
The government has found itself grappling with the recurring issue of economic slowdowns, prompting decisive measures to be taken.
Meanwhile, according to the government, the average life expectancy has increased from 60.7 to 71.3 years now.
Announcing the budget for the Fiscal Year 2081/82 on Tuesday, Finance Minister Pun revealed that Nepali’s life expectancy has increased.
Similarly, the literacy rate has risen from 58% to 76%, as per the same announcement.
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