Budget Today

Kathmandu, May 28

 Finance Minister Dr. Yuba Raj Khatiwada is presenting the budget for the Fiscal Year 2019/20 at the Federal Parliament Wednesday afternoon.

This is the second time he is presenting the budget as the finance minister of the two-third majority government. However, this is the third federal budget.

Dr. Khatiwada had presented the federal budget of Rs. 1,315 billion for the current fiscal year 2018/19. The National Planning Commission, the apex planning body in the country, had indicated that this year's budget could be around Rs. 1,500 billion.

According to the principles and priorities of the Appropriation Bill 2019, the new budget will give priority to infrastructure development, cooperation among the three-tier governments, private sector investment and good governance.

Dr. Khatiwada indicated that the resources would be distributed among all the governments to support equitable development.

He is also for completing the multi-year infrastructure projects like roads, bridges, energy, irrigation, water supply and building construction. Railways, waterways, airports and urban infrastructure development are other priority areas for the government.

Similarly, the new budget is said to include large energy projects, including cross-country transmission lines and renewable energy generation, employment schemes and agricultural development projects. 

The Finance Minister also has hinted at some populist programmes in the budget. There are chances of increasing the salary of the government employees.

According to Dr. Khatiwada, socialism-oriented economic system, directive principles and fundamental rights as mentioned in the Constitution, government’s Policy and Programmes of Fiscal Year 2019/20, the 15^th Periodic Plan 2019/20-2024/25, and election manifesto of ruling Nepal Communist Party (NCP) will be the foundations of the budget.

Published in The Rising Nepal daily on 29 May 2019.