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.
The government has announced the re-operation of the Biratnagar Jute Mill.
Dr. Prakash Sharan Mahat, spokesperson for the Nepali Congress and former Finance Minister, has remarked that despite efforts to address various issues through the budget, he remains skeptical about the outcome. #nepalpress
No increase in the old age allowance.
A budget of 2 Arab 46 crore rupees has been allocated for the construction of a ‘Signature Bridge’ over the Narayani and Tinau rivers.
The increase in development tax on potatoes, onions, and apple has been revoked.
