Nepal’s economy, already struggling with the impacts of the pandemic and global geopolitical tensions, is facing a bleak and uncertain future. This is exacerbated by frequent government changes, widespread corruption, and the departure of young people who feel there is no future for them in the country. The budget presents either a new opportunity or a potential crisis. Today is Budget Day in Nepal, as mandated by the constitution.
As we aim to ensure that every citizen understands how their money and taxes are being utilized, and to enhance accountability and transparency, here is the live coverage of Budget Day.
Cabinet meeting underway to approve the budget. Just a matter of time!
Finance Minister Barsha Man Pun surprises everyone with a new-style budget suitcase, replacing the long-used leather bag with a “Made in Nepal” bag crafted from Suti and Dhaka cloths.
Some unforgottable budget ‘Kanda’
1. The entire budget being leaked before the presentation during 68/69.
2. During the 66/67, the oppostition MP teared the budget document snatching from the hand of FinMin before he could proceed in Roustam.
3. FinMin Janardhan Sharma alleged to include unauthorized person in budget making.
Deputy Governor of the NRB Neelam Dhungana stressed on the need for promoting confidence of the private sector to achieve higher economic growth rate. “This will provide an opportunity to materialize benefits out of the falling interest rates and excessive liquidity with banks,” she added.
The government is said to be relying on the improper macroeconomic data due to lack of proper mechanism to estimate the accurate data.
