4 thousand 654 schemes were removed from the budget
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The government has arranged that new contracts can be made after the announcement of the budget from this year. Deputy Prime Minister and Finance Minister Bishnu Paudel has said that arrangements have been made so that there is no need to wait for the new financial year. He said that there is no need to wait for the new financial year to award a new contract to the project that has been completed.
"The budget will come on May 15, and we have made arrangements to start the new procurement process from the 16th the next day," Finance Minister Paudel said, "Before this, we had to wait for the new financial year. Now, if the plans in the budget are completed, they can be taken to the procurement process." He said that the concerned ministry should fill the posts of employees for the implementation of the budget by the middle of July.
Increasing the capacity of project management, policy reforms and taking the lead of the relevant ministries in budget implementation, speedy decisions and inter-agency coordination are mentioned in the budget for the next financial year . "The budget is based on realistic estimates of income and expenditure," said Paudel, "current expenditure has been kept within the limit by increasing the allocation of capital expenditure." Paudel claims that projects worth less than 30 million won't be included in the budget in the coming year. "It was not so easy to keep the project under the limit of 3 crores," he said, "but we have allocated the budget under the limit of 3 crores, we have removed 4 thousand 654 projects from the budget this time." "It is clear what kind of decision was made in which period in Nepal regarding electric vehicles (EV) and what was done by which budget," he said, "The decision made regarding EV next year is right, I am proud of it." Said . "After receiving the commission's report, an implementation action plan has been prepared under the coordination of Secretary Chudamani Paudel," he said. In the economic bill, the scope of health risk tax has been expanded to include tax on tobacco, khaini, gutkha, panmasala, scented betel nut, mouth freshener and hookah flavor, he said. He said that excise duty has been arranged and excise duty has been increased at the rate of 5 percent on premium cigarettes and 3 percent on cheap cigarettes.
Finance Minister Paudel said that a large number of taxpayers who have not submitted details for value added tax for a long time will be exempted from fines, additional charges and interest if they submit details and taxes. "The provision of bank guarantee to be kept by the export-import industry while taking the EXIM code has been removed," he said.
According to Poudel, customs duty has been levied at the same rate on the basis of the quantity of expensive and cheap liquor, beer and wine, henceforth the rate will be set based on the price .
According to Finance Minister Poudel, it is estimated that the next year's budget will expand economic activities, increase private sector investment, increase employment opportunities and achieve economic growth of 6 percent if infrastructure projects are completed on time.
