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Nepal's Finance Minister Presents FY 2083/84 Budget Focused on Economic Revitalization

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Finance Minister Dr. Swarnim Wagle presented the Executive Budget Proposal for the fiscal year 2083/84 to a joint session of the Federal Parliament. The budget emphasizes economic revitalization, boosting private sector confidence, increasing capital spending, and expanding employment opportunities, with an estimated size between Rs 1890 to Rs 2000 billion.

• The budget is prepared based on the government's 100-point action plan for governance reform, government policies and programs, and the priorities of the Appropriation Bill.
• Key priorities include information technology, small and medium enterprises, and investment promotion, with discussions indicating an increase in government employee salaries and a review of tax rates.
• The budget aims to promote good governance and economic revitalization, incorporating inputs from lawmakers and focusing on economic reforms, production boosts, and service delivery.
• The National Planning Commission had initially set a budget ceiling of Rs 1890 billion, which was later increased upon the government's request.
• The budget also proposes new laws for credit recovery, intellectual property protection, and attracting non-resident Nepali investment in the capital market.