First Business News Portal in English from Nepal
KATHMANDU: The government has presented principles and priorities of budget in the Parliament. Finance Minister Janardan Sharma presented it at the Parliamentary meeting today.
Presenting the bill, Minister Sharma said that the economy is recovering well after the control of the pandemic. “Plummeting domestic production and rising imports are the challenges of the current economy. The budget for next fiscal year will focus on reducing imports,” he said.
Sharma also said that the budget for the coming fiscal year would be socialism-oriented and focused on economic transformation.
As per him, more budget will be spent for the construction of local infrastructure. Sharma also mentioned that the share of internal revenue in the total revenue will be increased in the next fiscal year.
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