KATHMANDU: The government has set five strategies and five priorities for the budget and outlined strategies for economic reforms in the upcoming fiscal year.
According to the budget estimates for the upcoming fiscal year presented by Finance Minister Barshaman Pun before a joint sitting of the Federal Parliament today, the five objectives of the budget are increasing production, productivity, and employment; securing investment and growth; accelerating economic activities by boosting the morale of the private sector; achieving human resource development; alleviating economic disparities and poverty through the balanced and just mobilization of resources; and increasing the effectiveness of public service delivery.
Similarly, economic reforms and the encouragement of the private sector, construction of industrial infrastructure such as agricultural energy and information technology, development of education and health sectors, promotion of inclusion, social security, and good governance, and enhancement of the public service system are cited as the five priorities of the government for the upcoming fiscal year.
The five strategies for economic reforms are structural reforms, improvement in the business environment, reforms in the public finance system, financial sector reforms, and reforms in public administration.
As part of the budget announcement, a high-level task force will be formed to provide recommendations to the government for structural economic reforms.
The government also pledges to enact favorable policies, complete country rating, and eliminate dual taxation to promote an environment conducive to business in the country.
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