Budget for current FY endorsed; money to trickle down to market

ShareSansar, October 15:

The parliament has endorsed the budget for the current fiscal year 2071/72 with overwhelming majority.

A meeting of the House held yesterday endorsed the budget through the fast-track channel, paving way for the release of money for development and other regular activities of the state.

The fresh lease of billions of rupees from the government will have positive implication in the entire economy, including the capital market.

The amount earmarked under different headlines will boost cash flow in the economy, spur development and banking activities, and also trickle down in the form of spendings to the capital market, including the stock market.

Now that the parliament has endorsed the budget, it will be formally verified by President Dr Ram Baran Yadav on October 22, following discussions pertaining to the concerned ministries in the House, which is expected to end today.

Though Finance Minister Dr Ram Sharan Mahat had tried to ratify the budget from the parliament  within Bhadra, it was delayed due to prolonged House obstruction by the opposition, including UCPN (Maoist) and the Madhesh-based parties.

Through its fiscal policy for the current fiscal year, the government had earlier this year tabled the budget worth Rs 6.18 kharba.