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Started 15 hours ago · Updated 5 hours ago

Government Finalizes Fiscal Year 2083/84 Budget with Focus on Economic Reform and Private Sector Growth

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The Nepali government is finalizing the budget for fiscal year 2083/84, set to be presented by Jestha 15, with a strong emphasis on fostering a private sector-friendly investment environment and implementing economic reforms. Key policy priorities include reducing acquisition and tax-related hurdles, enhancing the one-door service system, and increasing investment in industrial infrastructure to lower costs. The Finance Minister has described the upcoming budget as the commencement of a new, transformative phase of economic reform.

• The government aims to mobilize significant funds, including from the private sector, for public infrastructure, recognizing the limitations of traditional revenue and donor aid.
• Policy and program documents for the upcoming fiscal year, outlining budget principles and priorities, have already been approved by parliament.
• The government has committed to various policy reforms and concessions to boost private sector morale, including efforts to end unhealthy competition, syndicates, cartels, and monopolies.
• The budget is expected to adopt a policy of increasing investment in industrial infrastructure to reduce operational costs for businesses.
• The private sector anticipates that its demands will be addressed and its morale boosted by the government's upcoming budget policies.