KATHMANDU: Finance Minister Swarnim Wagle has said the government has introduced a transparent budget aimed at improving Nepal’s economy through broad structural reforms.
Speaking at a budget discussion programme organized by the Nepal Association of Financial Journalists (NAFIJ) in Kathmandu on Monday, Wagle said the budget has been designed to address the economic impact of the earthquake, COVID-19 pandemic, and global economic disruptions while steering the economy toward long-term recovery.
He said the government has set an ambitious target of collecting Rs 1.58 trillion in revenue, relying more on internal resources rather than debt financing.
Wagle added that the newly introduced 5 percent tax policy will not significantly affect consumers, and that alternatives are being explored to ensure electricity tariffs do not burden end users.
He also said that the tax structure on electric vehicles has been designed in a way that lower-powered vehicles will not be adversely affected.
The Finance Minister further stated that the government has attempted several reforms in the current budget and urged stakeholders not to spread confusion or misinformation regarding its provisions.
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