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There is an arrangement to present the annual policies and programs of the Government of Nepal to the joint meeting of the Federal Parliament by the President. Ministries are making their own programs and plans for the policies and programs of the coming financial year. At the same time, the Ministry of Finance has also started the homework of policies and programs.
According to the initial blueprint drawn by the Ministry of Finance, a program has been proposed to reduce the share of the informal sector in the economy in order to formalize the economic activities of the informal sector. According to which it is mentioned that a detailed study will be done regarding the formalization of the informal economy.
The Ministry of Finance has prepared policies and programs for the next financial year 082/83 with a proposal to formulate and implement a procedure to bring Nepal out of the "grey list" of wealth laundering within one year. According to which, by January 082, Nepal will be able to get out of the gray list, the then program implementation action plan will be prepared.
Likewise, it is said that the effective implementation of the action plan will bring it out of the gray list. Artha has proposed to formulate a federal economic policy as an umbrella policy to guide the economic activities of the three levels of government (Union, State and local levels). It is mentioned in the proposal that such a policy will be formulated by 082 Chait.
According to the proposed policy and program, a think tank consisting of experts will be formed to maintain harmony between monetary policy and financial policy. It is targeted to be established by the end of July 2012. It is also mentioned in the proposal to formulate a national savings policy. It is also meaningful to formulate a national savings policy to ensure investable capital by encouraging household and commercial sector savings and increasing total household savings.
Ministry of Finance spokesperson Shyam Prasad Bhandari said that homework for policies and programs has been accelerated. He said, "The Ministry of Finance has already started internal homework on what policies and programs will be for the coming year, we will prepare them in time." According to him, programs will be made based on the current needs. In addition, he says that the Ministry of Finance is busy with the homework of the budget.
The policies and programs made by the ministries have to be submitted to the Prime Minister's Office. The same document must be passed by the Council of Ministers and it is customary for the President to submit it to both houses of Parliament.
