HoR approves proposal to consider Finance Bill, 2083

The House of Representatives has approved a proposal to begin consideration of the Finance Bill, 2083. At today's meeting, lawmakers unanimously approved the proposal tabled by Finance Minister Dr Swarnim Wagle.

Responding to questions raised by MPs during the general discussion on the bill, Finance Minister Wagle assured the House that the fees and taxes outlined in the budget will be spent in their intended areas. He explained that since all government revenue goes into a single consolidated fund, there is no need to set up separate funds for individual projects and programmes.

The Finance Minister also said that people earning up to 1 million rupees a year will continue to receive income tax exemptions, adding that tax rates have been carefully designed to support long-term economic growth. He said the budget reflects a liberal economic approach combined with social justice, built on the idea that those who are able to contribute should support those who cannot.

"This government has had the courage to include measures in the budget that may seem difficult in the short term, but will benefit the country and its people in the long run," he said.

Wagle further stated that the government has made the necessary arrangements to bring more market-based reforms and modernization to the electricity sector. He said the government remains committed to improving governance, and that the economy will improve faster as more of it moves into the formal sector.

He also clarified that there has been no reduction in welfare programmes for the poor and minority communities that were introduced by previous governments.

MPs Khushbu Oli, Ganesh Parajuli, Pushparaj Kandel, Ganesh Bahadur Bishwakarma, Harkraj Rai, Gangalaxmi Awal, Indira Ranamagar, Krishnahari Budhathoki, and Guru Prasad Baral took part in the discussion and shared their views on the bill.