The Bagmati government has unveiled a long-term development plan focused on production, employment, good governance, digital transformation, and infrastructure through the budget.
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The Bagmati Province government has indicated that the budget for the upcoming fiscal year 2083-84 will focus on production, employment creation, good governance and digital transformation.
Minister for Economic Affairs and Planning Prabhat Tamang gave this information while presenting a proposal on the principles and priorities (excluding taxes) of the Appropriation Bill, 2083 in the meeting of the Province Assembly held on Monday.
Minister Tamang said that the budget will be formulated keeping the economic and social transformation of the province in mind. According to him, infrastructure development, health, education, agricultural modernization, entrepreneurship promotion, tourism development, social justice and disaster management have been given high priority in the upcoming budget while maintaining financial discipline.
Minister Tamang also informed that the province government is preparing to implement plans and programs in line with the Sustainable Development Goals. He clarified that expenditure management will be tightened to address the current economic slowdown, contraction in internal revenue collection and slowdown in the production sector.
Minister Tamang said that the government is committed to making the project selection process systematic and transparent by controlling the trend of budget allocation based on access and impact in the past and by fully implementing the Project Bank.
A detailed discussion on the principles and priorities presented in the Provincial Assembly is scheduled for a meeting to be held at 11 am on Tuesday. At 5 pm on the same day, Provincial Chief Deepak Prasad Devkota is scheduled to make public the policies and programs of the provincial government for the upcoming fiscal year.
The principles and priorities of the Appropriation Bill, which is seen as the basis document for the upcoming budget, have been analyzed to have given a clear direction to the provincial government's economic revival, promotion of the productive sector, and good governance-oriented development strategy.
