Budget for the Upcoming Year: Five Objectives, Five Priorities, and Five Strategies

Kathmandu, The government has announced the formation of a high-level Economic Reform Advisory Taskforce to bring structural improvements to the economy. Finance Minister Barshaman Pun presented the budget for the upcoming fiscal year 2081/82 to both houses of the Federal Parliament on Tuesday, outlining five objectives, five priorities, five economic reform strategies, and programs for five transformative sectors.

The five objectives of the budget include increasing production, productivity, and employment; boosting private sector confidence and investment; accelerating economic activities; developing human resources; reducing economic inequality and poverty through balanced and equitable resource allocation; and enhancing the effectiveness of public service delivery.

The five priorities outlined in the budget are economic reform and private sector promotion; the development of industrial infrastructure such as agriculture, energy, and information technology; the development of social sectors like education and health; promoting inclusivity and social security; and improving governance and public service delivery.

The five strategies for economic reform include structural reform, improving the business environment, reforming the public finance system, enhancing the financial sector, and reforming public administration.

To facilitate these structural reforms, a high-level Economic Reform Advisory Taskforce will be established, as mentioned by Finance Minister Pun. The budget statement also highlights the creation of policies for improving the business environment, country ratings, and double taxation agreements.

These initiatives are aimed at fostering a more resilient and dynamic economy, ensuring sustainable development, and improving the overall economic landscape of Nepal.