Govt To Unveil Budget Today; Fin Min Dr Prakash Sharan Mahat To Address Parliament This Evening

The government is all set to unveil the budget for the fiscal year 2080/81 today. 

Finance Minister Dr Prakash Sharan Mahat will address the joint session of the parliament scheduled for 4:00 pm, this evening to make public the budget for the upcoming fiscal year. 

The ruling coalition government is under immense pressure to structure the budget to address the challenges of a reeling Nepali economy that is currently in recession. 

Earlier, the government had disclosed its programmes and policies for the FY 2080/81. President Ram Chandra Poudel in his address on Jestha 05 has announced the Policies and Programmes to be adopted by the government this upcoming fiscal year, which is also regarded as the blueprint of govt's action. 

The earlier announced programmes and policies have been met with both flak and appreciation from members of the ruling coalition government and opposition parties. 

Finance Minister Mahat has already hinted that the size of the budget will be reduced in wake to the ongoing economic crisis. In line with the statements made by representatives of the government, it has promised to expand the scope of the revenue collection, maintain frugality in government spending and review existing tax laws. 

Similarly, it has earlier been claimed that the government will adopt policies to encourage usage of electronic vehicles while discouraging the import and consumption of fossil fuel powered vehicles. But, this is not the first time such policies were announced, however, the implementation of the same has not been ascertained. 

Therefore, more than a fit-for-all budget, although imperative, the implementation of the unveiled budget will be of utmost importance.