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The government's first budget after the Gen-G movement

Finance Minister Swarnim Wagle is presenting the budget for the fiscal year 2083/84 in the Federal Parliament.

Jestha 15, 2083

Kantipur Reporter

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113 Updates

(06:05 PM)

Customs duty on electric vehicles, which used to be levied based on 'peak power' capacity, will now be levied on a value basis.

(06:03 PM)

Nepali embassies in Denmark, Brazil, and South Africa, as well as consulates in Chengdu, San Francisco, and the embassy branch in Visakhapatnam, have been closed.

In light of the changing economic diplomacy, Nepali embassies in Denmark, Brazil, and South Africa, as well as consulates in Chengdu, San Francisco, and the embassy branch in Visakhapatnam, have been closed.

(06:03 PM)

VAT will be charged on electricity consumption exceeding 50 units per month.

The government has announced that it will impose a concessional rate of value-added tax on electricity consumption exceeding 50 units per month. 

(06:02 PM)

Digital time cards to be implemented in government offices

Digital time cards are to be implemented in government offices. Similarly, systems related to civil services such as land revenue, transport, passport, personal incident registration and social security management will be strengthened, Finance Minister Swarnim Wagle announced in his budget speech.

(05:59 PM)

Strengthening Nepal's role in the United Nations and other organizations

The government has announced that it will strengthen Nepal's role in multilateral and regional forums, including the United Nations. Finance Minister Swarnim Wagle has said that a strong diplomacy will be taken forward for regional proximity. He said that topics such as the birthplace of Buddhism, the highest peak of Mount Everest, the Himalayan range, yoga meditation, cultural diversity, the image of a peaceful nation and participation in international peace missions will be promoted to expand the power of peace. He said that economic diplomacy will be enhanced to promote export capacity, bilateral trade and investment tourism by empowering Nepali missions abroad.

(05:59 PM)

Budget allocation of Rs 46.92 billion for agriculture and livestock development

A budget of Rs 46.92 billion has been allocated for agriculture and livestock development. Similarly, an animal quarantine will be established at the border checkpoint in Hilsa, Humla. Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 2.19 billion has been allocated for subsidy on agricultural insurance premiums.

 

 

(05:57 PM)

Laws on conflict of interest to be enacted

The government is going to make a law on conflict of interest. Finance Minister Swarnim Wagle informed that the government will make such a law to end policy-level corruption for good governance and control of corruption. The government is going to make such a law in the budget of the upcoming fiscal year.

(05:56 PM)

The operation of Gautam Buddha and Pokhara airports will be done with the private sector.

Gautam Buddha International Airport and Pokhara Regional Airport will be operated in collaboration with the private sector, and night flights will be operated at Bharatpur Airport. Similarly, Surkhet Airport will be expanded in collaboration with the provincial government, Finance Minister Swarnim Wagle announced in his budget speech.

The operation of Gautam Buddha and Pokhara airports will be done with the private sector.
फाइल तस्बिर

(05:54 PM)

The government has announced a budget of Rs 2124.34 billion for the fiscal year 2083/084. Of this, Rs 1270.58 billion is for current expenditure, Rs 431.10 billion for capital expenditure, and Rs 422.2 billion for financial management.

(05:54 PM)

3.46 billion to build a wastewater treatment plant

Finance Minister Swarnim Wagle has said that the construction of 72.7 million liters of wastewater treatment plants per day will be completed in Sallaghari, Kodku, Dhobighat, Gokarna and Hanumanghat in the Kathmandu Valley. A budget of Rs 3.46 billion has been allocated for this. Finance Minister Wagle also said that sewage treatment plants will be brought into operation in Khandbari, Belauri, Town Bazaar, Barpak and Trishuli Bazaar outside the valley.

(05:51 PM)

The credibility and influence of Nepal's international presence will be developed.

Finance Minister Swarnim Wagle has announced in his budget speech that Nepal's international presence, credibility, and influence will be developed through integrated use of economic diplomacy, cultural identity, and tourism.

(05:50 PM)

Construction modality of Nijgadh International Airport to be decided within 6 months

The government is set to decide the construction modality of the international airport to be built in Nijgadh within six months.

(05:49 PM)

Soft power will be mobilized for economic prosperity while strengthening foreign relations.

Soft power will be mobilized for economic prosperity by strengthening balanced foreign relations based on soft power and diaspora, mutual benefit, national self-respect, and sovereign interests.

(05:48 PM)

8.31 billion budget for industry, commerce and supplies

The government has allocated Rs 8.31 billion for industry, commerce and supplies. 

(05:48 PM)

Employee salaries will be increased by up to 21 percent.

Finance Minister Swarnim Wagle has announced in his budget speech that the salaries of employees will be increased by about 21 percent.

(05:47 PM)

7.34 billion for the culture and tourism sector

The government has allocated Rs 2.93 billion for the civil aviation sector.

(05:47 PM)

Third party insurance to be increased from Rs. 5 lakh to Rs. 1 million

Finance Minister Swarnim Wagle has announced in his budget speech that the third party insurance will be increased from Rs 500,000 to Rs 100,000.

(05:46 PM)

1.53 billion allocated to upgrade Kathmandu Airport

The government has allocated 1.53 billion rupees to upgrade Kathmandu Airport. The government announced this through its budget speech. 

(05:45 PM)

20 percent reinsurance will be done through Nepal Reinsurance Company.

Finance Minister Swarnim Wagle has announced in his budget speech that arrangements will be made for 20 percent reinsurance through Nepal Reinsurance Company.

(05:44 PM)

High-mountain eco-tourism trails to be developed as hiking routes

Finance Minister Swarnim Wagle has announced in his budget speech that the Great Himalayan Trail and other trekking routes will be made strategic trekking routes and the high-mountain eco-tourism trekking route connecting Khaptad, Ramaroshan, Badimalika, Budhinanda, Rara, Swargadwari, and Muktinath will be developed as a Dafhe route.

(05:44 PM)

Dhaubadi Iron to reduce government's shareholding and switch to PPP model

The government is set to reduce the government's shareholding in the Dhaubadi Iron and Steel Industry and move forward with the procedure to operate it under the Public Private Partnership (PPP) model. 

(05:42 PM)

Budget allocation of Rs 310 million for infrastructure and management of juvenile correctional homes

The government has allocated a budget of Rs 310 million for the infrastructure and management of the juvenile correctional home.

(05:42 PM)

Ecotourism trail Danfe route to be developed

The government has mentioned that it will develop other trekking routes, including the Great Himalayan Trail, as strategic trekking routes. Finance Minister Swarnim Wagle has stated that in the upcoming year's budget, a high-mountain ecotourism trekking route called Danfe Route will be developed connecting Khaptad, Ramaroshan, Badimalika, Budhinanda, Rara, Swargadwari, and Muktinath. 

Ecotourism trail Danfe route to be developed

(05:41 PM)

Budget allocation of Rs 4.3 billion for the sports sector

A budget of Rs 4.3 billion has been allocated for the sports sector. Similarly, Finance Minister Swarnim Wagle announced in his budget speech that funds have been allocated to hold the 10th National Games in Surkhet and to build the necessary infrastructure for the proposed 11th National Games in Madhesh Province.

(05:41 PM)

5.14 billion rupees to build a suspension bridge

Finance Minister Swarnim Wagle has said that Rs 5.14 billion has been allocated to build a suspension bridge that will not increase the walking distance by more than 30 minutes to increase citizens' access to basic transportation services.

(05:40 PM)

Mines and Minerals Authority to be established

Finance Minister Swarnim Wagle has announced in his budget speech that the government will establish a Mines and Minerals Authority for the overall regulation and management of the production, extraction, supply and use of minerals and construction materials.

(05:39 PM)

Lottery for every remittance inflow event

The government is going to conduct a lottery program for every remittance inflow program. 

(05:38 PM)

International medal-winning athletes to receive free treatment for life after retirement

The government has announced that athletes who win international medals will be provided with free healthcare for life so that they can live a dignified life after retirement. 

(05:37 PM)

Initiatives will be taken to include Tilaurakot, Janakpur, and Gokarneshwor in the World Heritage List

Finance Minister Swarnim Wagle has announced in his budget speech that initiatives will be taken to include Tilaurakot in Kapilvastu, Janakpur in Dhanusha, and Gokarneshwor in Kathmandu in the World Heritage List.

(05:34 PM)

Special project to preserve ancient monasteries in Mustang, Manang and other places

The government has announced a special project to preserve at least two dozen monasteries over 200 years old in Mustang and Manang regions.

(05:32 PM)

Providing students with the necessary facilities by selecting sports from the basic level of school

The government will select students with special interest and ability in sports from the basic level of school and provide them with training with necessary facilities. This was announced through the budget speech. 

(05:30 PM)

What is in the budget regarding education?

The main points included in the budget for the fiscal year 2083/84 presented by Finance Minister Swarnim Wagle regarding education are: 

• Budget allocation of Rs 218.3 billion for the education sector
• Nepalis employed abroad will be provided with the facility to study through the Open University
• Excellent foreign universities will be encouraged to operate campuses in Nepal
• Education from school to university level will be made innovative and skill-oriented
• Clean toilet campaign will be launched in all educational institutions

 

What is in the budget regarding education?

(05:29 PM)

Modern cricket stadiums to be built in 8 major cities within 5 years

The government is set to build modern cricket stadiums in eight major cities within five years. It has been announced that at least 2,000-capacity indoor multipurpose stadiums will be built in Biratnagar, Lahan, Kathmandu, Pokhara, Butwal, Surkhet and Dhangadhi's Fapla within the next three years. 

(05:27 PM)

Entrepreneurial program for the injured of Gen-G Andon

The government is going to launch an entrepreneurship development program for the injured of the Gen-G movement in the upcoming budget. Finance Minister Swarnim Wagle said during the budget speech for 2008/09, ‘The martyrs of the Gen-G movement have been honored and respectable financial assistance has been ensured for the families of the martyrs. We will launch a program for free treatment, monthly allowance according to the situation and entrepreneurship development for the injured of the movement.’

(05:27 PM)

Budget allocation of 2.27 billion rupees to the Ministry of Women, Children, Gender and Sexual Minorities and Social Security

Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 2.27 billion has been allocated to the Ministry of Women, Children, Gender and Sexual Minorities and Social Security.

(05:25 PM)

1 billion allocated for nutritional support for children from the Dalit community

Finance Minister Swarnim Wagle has announced in his budget speech that Rs 1 billion has been allocated for nutritional support for Dalit children under the age of 5.

 

(05:24 PM)

Air ambulance service to be operated at Bitak site in Karnali

The government is set to operate air ambulance services in remote areas of Karnali Province. Similarly, the night duty allowance of nursing personnel has been doubled and the allowance of female volunteers has been increased by 50 percent.

(05:23 PM)

Budget allocation of Rs 2.18 billion 300 million to the education sector

The government has allocated a budget of 218.3 billion rupees for the education sector. Last year, a budget of 211.17 billion rupees was allocated for the education sector.

(05:21 PM)

70 billion allocated to complete under-construction transmission lines and substations

The government has allocated 70 billion to complete the under-construction transmission lines and substations. 

 

(05:21 PM)

10 stadiums with a capacity of 8,000 spectators will be upgraded with floodlights within 3 years

Linking sports infrastructure with youth development and the local economy, Finance Minister Swarnim Wagle has announced in his budget speech that 10 football stadiums with a capacity of at least 8,000 spectators will be upgraded with floodlights within the next 3 years.

 

(05:20 PM)

The government has given special priority to the Khutiya-Dipayal road section in the upcoming budget. Finance Minister Swarnim Wagle has said that the Khutiya-Dipayal fast track connecting Khutiya in Kailali and Dipayal in Doti will be upgraded in the 2083/84 budget. 

Khutia-Dipayal road to be upgraded

(05:20 PM)

6.25 billion budget for Karnali, Kaligandaki and Koshi corridors

31 kilometers of blacktop and gravel will be constructed in the Karnali Corridor, 21 kilometers of blacktop and gravel will be constructed in the Kaligandaki Corridor, and 15 kilometers of the northern section of the Koshi Corridor will be constructed. Finance Minister Swarnim Wagle said that Rs 6.25 billion has been allocated for these three corridors.

 

(05:19 PM)

15 billion budget allocated for health insurance program

Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 15 billion has been allocated for the health insurance program. The health insurance program, which was run in private and government hospitals, was closed due to the financial crisis.

(05:18 PM)

Nagdhunga Tunnel to be operational from Shrawan

Finance Minister Swarnim Wagle has said that the Nagdhunga-Sisnekhola tunnel will be operational from next Shrawan. The construction work of the tunnel has been 98 percent completed.

(05:17 PM)

Capacity of Bir and Kirtipur Hospitals to be increased for burn treatment

Finance Minister Swarnim Wagle has announced in his budget speech that the capacity of Bir Hospital and Kirtipur Hospital will be increased for burn treatment and free treatment for childhood cancer will be provided at government hospitals.

 

(05:16 PM)

Rs 1.46 billion has been allocated for the upcoming fiscal year to blacktop 25 kilometers of the Madanbhandari Highway and construct a bridge.

(05:16 PM)

Facilities for studying at the Open University for those employed abroad

The government has introduced a facility for Nepalis employed abroad to study at open universities. Finance Minister Swarnim Bagl announced this in the budget presented by the government for the upcoming fiscal year.

(05:15 PM)

Policy to allow excellent foreign universities to operate campuses in Nepal

Finance Minister Swarnim Wagle has announced in his budget speech that the best foreign universities will adopt a policy of operating campuses in Nepal and that arrangements will be made for citizens living abroad to study under the Open University.

(05:14 PM)

Education will be made innovative and skill-oriented.

Finance Minister Swarnim Wagle has announced in his budget speech that education from school to university will be made innovative and skill-oriented, and that teachers' abilities will be tested.

(05:14 PM)

Mid-hill Highway to be constructed within 3 years

When 1,040 MW, including 670 MW from hydropower projects and 370 MW from solar projects, is connected to the national system, the total connected capacity will reach 5,535 MW.

(05:13 PM)

The government has mentioned that after Melamchi drinking water, it will complete a study to bring drinking water to Kathmandu from Yangri and Larke rivers in Helambu and Sindhupalchowk. 

(05:12 PM)

37.17 billion rupees allocated for drinking water

The government has allocated Rs 37.17 billion for drinking water.

 

(05:11 PM)

Construction of Mid-Hill Highway to be completed within 3 years

Finance Minister Swarnim Wagle has said that the construction of the Pushpalal (Mid-Hill) Highway will be completed within the next 3 years. Under this, Rs 2.16 billion has been allocated to complete the upgrading of 65 kilometers of roads and the construction of 5 bridges.

(05:11 PM)

286.48 billion allocated for road and urban development

The government has stated that it has allocated Rs 286.48 billion for road and urban development.

(05:10 PM)

'Blue Bus' to be operated nationwide for women

Necessary arrangements have been made to operate 'Blue Buses' equipped with CCTV cameras across the country to ensure the safe movement of women.

(05:09 PM)

Presenting the budget for the fiscal year 2083/84, Finance Minister Swarnim Wagle has put forward some new plans for health services. Some of the key points included in the budget regarding health are: 

• 25 types of medicines being distributed free of cost will be produced in Nepal
• 90 percent of citizens will be brought under the health insurance coverage within three years
• The quota system implemented in higher education, including medicine, nursing, information technology, will be reviewed by the next fiscal year
• Nepal Drug Limited will be improved and expanded in health services

 

(05:06 PM)

Rs 4.65 billion budget for Postal Highway

Finance Minister Swarnim Wagle has said that the construction of the Postal Highway will be completed in the next fiscal year. Rs 4.65 billion has been allocated for this. In the current fiscal year, Rs 3.56 billion has been allocated for this highway.

(05:06 PM)

Fintech marketplace to be established under the supervision of Nepal Rastra Bank

The government has come up with a new policy to promote and regulate the financial technology (FinTech) sector. Presenting the budget for the upcoming fiscal year, Finance Minister Swarnim Wagle announced the establishment of a ‘FinTech Marketplace’ under the direct supervision of Nepal Rastra Bank.

Fintech marketplace to be established under the supervision of Nepal Rastra Bank

(05:05 PM)

17.64 billion allocated for Kathmandu-Terai Madhes Expressway

Finance Minister Swarnim Wagle has said that the construction of 40 bridges and a 5.4-km tunnel on the Kathmandu-Tarai-Madhesh Fast Track will be completed next year. Rs 17.64 billion has been allocated for this project.

(05:05 PM)

A comprehensive economic and social campaign will be launched for the upliftment of Nepal.

Finance Minister Swarnim Wagle has announced in his budget speech that Nepal has decided to upgrade its status as a least developed country (LDC) in the next two years under the banner of intensive economic and social national renaissance, even though it has currently met the minimum qualification to graduate from the UN.

(05:03 PM)

What is in the budget regarding drinking water?

Some of the key points regarding drinking water presented in the budget presented by Finance Minister Swarnim Wagle in Parliament:  

• Deep boring to be carried out in Tarai-Madhesh
• 280 drinking water projects in Tarai-Madhesh to be completed
• Drinking water projects to be operated in Damak, Dharan and Itahari
• Nationwide water testing scheme to be implemented
• Waste water treatment scheme to be brought into operation

 

What is in the budget regarding drinking water?

(05:03 PM)

Government grants will be provided to nationally recognized brokers.

Finance Minister Swarnim Wagle has announced that government grants will be provided to nationally recognized parties.

(05:02 PM)

Of the 25 types of medicines being distributed for free, 25 are manufactured in Nepal.

Nepal Drug Limited will be enabled to produce 25 types of medicines within Nepal, among those distributed free by the government.

(05:01 PM)

Finance Minister Swarnim Wagle has announced in his budget speech that a new bill will be introduced to manage investment-friendly immigration by making extensive reforms in the visa system. 

(05:00 PM)

Announcement to usher Nepal into the AI ​​era

The government has announced a special initiative to help Nepal confidently enter the era of Artificial Intelligence (AI). 

(05:00 PM)

A broad debate will be held on providing subsidies to political parties based on the votes they receive in elections.

Finance Minister Swarnim Wagle has announced in his budget speech that a broad debate will be held on providing grants to recognized political parties based on the votes they received in the last general election. 

(04:59 PM)

Announcement of legislation to ensure voting rights for migrants

The government has announced that it will prepare legal, technical, and administrative infrastructure to ensure the voting rights of Nepali citizens living abroad by involving them in the democratic process.

(04:58 PM)

1,000 km of blacktop and 275 concrete bridges will be constructed within the next fiscal year.

Finance Minister Swarnim Wagle has announced in his budget speech that 1,000 km of blacktop and 275 concrete bridges will be constructed within the next fiscal year. 

 

(04:58 PM)

Diaspora skill capital and networks will be utilized to expand soft power

Finance Minister Swarnim Wagle has announced in his budget speech that diaspora skills, capital and networks will be utilized to expand the power of the country. 

 

(04:58 PM)

What is in the budget regarding road infrastructure?

Presenting the budget for the fiscal year 2083/84, Finance Minister Swarnim Wagle made key announcements regarding road infrastructure:

• Budget allocation of Rs 17.64 billion for Kathmandu-Terai/Madhesh Expressway
• Construction of bridges on national and strategic highways to be completed within three years
• Tunnels to be put into operation from next Shrawan

 

(04:57 PM)

Audit of political party accounts to be conducted through the Auditor General

Finance Minister Swarnim Wagle has announced in his budget speech that the accounts of political parties will be audited by the Auditor General. 

 

(04:56 PM)

Clean toilet campaign to be launched in all educational institutions

Finance Minister Swarnim Wagle has announced in his budget speech that a clean toilet campaign will be launched in all educational institutions. 

 

(04:54 PM)

Facilitating the listing of Nepali companies in foreign stock markets

The government is going to facilitate the listing of Nepali companies in foreign stock markets. The government announced this through its budget speech. 

(04:53 PM)

The capital market will be made more dignified and NEPSE will be restructured.

The government is set to make the capital market more dignified and proceed with the restructuring of the Nepal Stock Exchange. 

(04:53 PM)

Child maintenance allowance for Dalit children doubled

Finance Minister Swarnim Wagle has announced in his budget speech that the child maintenance allowance received by Dalit children across the country has been doubled to Rs 1,000 per month. 

(04:52 PM)

Providing more concessions in credit flow to women entrepreneurs

The government is going to provide more concessions in credit flow to women entrepreneurs. This was announced through the budget speech.

(04:51 PM)

90 percent of citizens to be covered by health insurance in 3 years

Finance Minister Swarnim Wagle has announced in his budget speech a comprehensive restructuring of the health insurance program, bringing 90 percent of the population under the health insurance umbrella within 3 years.

(04:51 PM)

The long-standing Nepal Electricity Authority is set to be restructured. The Nepal Electricity Authority will be divided into three separate entities: generation, transmission and distribution, and trading.

(04:50 PM)

Quota system for higher education including medicine, nursing, information technology to be reviewed

Finance Minister Swarnim Wagle has announced in his budget speech that the quota system imposed in higher education, including medicine, nursing, information technology, will be reviewed by the next fiscal year. 

 

(04:49 PM)

Finance Minister Swarnim Wagle has announced in his budget speech that Nepal Pharmaceuticals Limited will be empowered and that healthcare services will take a leap forward.

(04:49 PM)

Government to establish asset management company by mid-December

The government is set to establish an asset management company by mid-December. This was announced during the budget speech.

(04:48 PM)

PPA to be done immediately for projects with a capacity of less than 10 MW

Finance Minister Swarnim Wagle has announced in his budget speech that PPA will be immediately issued for projects with a capacity of less than 10 megawatts.

(04:47 PM)

Government ownership in Nepal Telecom to be reduced to 66 percent

The government has announced that it will retain its ownership of only 66 percent in Nepal Telecom Company Limited (Nepal Telecom) and expand the remaining shares to the public.

(04:46 PM)

Forestry as a basis for import substitution, procedural hassles to be removed

Finance Minister Swarnim Wagle has announced in his budget speech that forests will be the basis for import substitution and that procedural hassles will be removed. 

 

(04:46 PM)

Up to 40 percent discount on agricultural produce and marketing

The government has decided to provide up to 40 percent discount on agricultural produce and marketing. This was announced through the budget speech.

 

Up to 40 percent discount on agricultural produce and marketing
सल्यानको कालिमाटी गाउँपालिका–७, घुइयावारीमा आकाशे पानीको भरमा लगाइएको गहुँबाली । तस्बिर : विप्लव महर्जन/कान्तिपुर

(04:42 PM)

Special discounts will be given to 12 main items that add more than 50 percent to the value of the product.

Finance Minister Swarnim Wagle has announced in his budget speech that the government will provide special discounts on 12 main items that add more than 50 percent to the country's value.

(04:41 PM)

The government has announced that the capital gains tax will be final. Finance Minister Swarnim Wagle made this announcement in his budget speech.

(04:41 PM)

The system for Nepali citizens to invest abroad will be made more convenient.

Finance Minister Swarnim Wagle has announced in his budget speech that the government is preparing to further facilitate the system for Nepali citizens to invest abroad. 

(04:40 PM)

10 percent VAT discount available for digital payments

(04:39 PM)

High-level committee to be formed to study the relevance of multiple rates in VAT

Finance Minister Swarnim Wagle has announced in his budget speech that a high-level committee will be formed to study the relevance of multiple rates on VAT.

High-level committee to be formed to study the relevance of multiple rates in VAT

(04:39 PM)

High priority given to mathematics education

The government is going to give priority to mathematics education. Finance Minister Swarnii Wagle has announced that the government will give high priority to mathematics education used in AI. The announcement was made while giving importance to AI and information technology in the budget for the upcoming fiscal year. 

(04:38 PM)

The capital of the National Commercial Bank will be increased.

Finance Minister Wagle has said that a decision has been made to increase the capital of Rastriya Banijya Bank.

The capital of the National Commercial Bank will be increased.

(04:37 PM)

Offshore bonds to be established in foreign currency

Offshore bonds to be established in foreign currency

(04:35 PM)

Legal provisions will be amended to allow non-resident Nepalis to participate in the secondary securities market.

Finance Minister Wagle has said that legal provisions related to foreign investment approval, investment accounting, profit repatriation, and capital gains tax will be amended to allow non-resident Nepalis to participate in the secondary securities market.

Legal provisions will be amended to allow non-resident Nepalis to participate in the secondary securities market.

(04:33 PM)

Tax dispute pending in court to be withdrawn if 1 percent is added

The government has announced that it will withdraw the case if the tax amount is increased by 1 percent and paid within the stipulated time to resolve pending tax disputes in court or judicial bodies.

(04:33 PM)

Key points of the budget for fiscal year 2083/84

Key points made during the presentation of the budget for the fiscal year 2083/84:

- A law on debt recovery will be enacted
- Improvements in the procurement process
- Stability of project managers will be ensured
- The impact of the price increase of construction materials on construction entrepreneurs will be addressed

Key points of the budget for fiscal year 2083/84

(04:31 PM)

A separate tribunal will be established to resolve commercial disputes.

Finance Minister Swarnim Wagl has said that a separate tribunal will be established for the speedy resolution of commercial disputes and the Fair Trade Act will be amended.

 

(04:28 PM)

Excise duty levied on 360 items abolished

The excise duty levied on 360 items has been abolished. Finance Minister Swarnim Wagle announced this in his budget speech.

Excise duty levied on 360 items abolished

(04:27 PM)

Customs duty rates reduced on 273 types of raw materials

Finance Minister Swarnim Wagle has said that customs duty on industrial raw materials has been reduced. He said that customs duty on industrial raw materials has been reduced by at least one level compared to finished goods.

Customs duty rates reduced on 273 types of raw materials

(04:26 PM)

The highest income tax rate is 29 percent.

The highest income tax rate will be fixed at 29 percent from the fiscal year 2083/83. Finance Minister Swarnim Wagl announced this in his budget speech. 

(04:26 PM)

Key points of the budget for fiscal year 2083/84:

Some of the key points made while presenting the budget for the fiscal year 2083/84: 

- Comprehensive change in tax rates 
- Tax-free limit of 1 million 
- 31 bodies abolished, 6 bodies merged 
- To make the bureaucracy dignified, the salaries of civil servants, military personnel, and teachers will continue to increase. 

Key points of the budget for fiscal year 2083/84:

(04:23 PM)

Personal income tax exemption up to Rs. 1 million

The budget for the fiscal year 2083/84 has provided a personal income tax exemption of up to Rs. 1 million.

(04:22 PM)

I have conducted a comprehensive review of tax rates: Finance Minister

Finance Minister Swarnim Wagle has said that a major review has been carried out on tax rates.

I have conducted a comprehensive review of tax rates: Finance Minister

(04:21 PM)

The vicious cycle of political instability has ended: Finance Minister

Finance Minister Swarnim Wagle has said that the vicious cycle of political instability has ended. He made this statement while presenting the budget for the fiscal year 2083/84.

The vicious cycle of political instability has ended: Finance Minister

(04:20 PM)

Finance Minister Swarnim Wagle has begun his budget speech for the fiscal year 2083/84.

Finance Minister begins budget speech

(04:16 PM)

Joint session of Federal Parliament begins

A joint meeting of the Federal Parliament has begun to present the budget. 

(04:08 PM)

Prime Minister Balendra Shah in Parliament

Prime Minister Balendra Shah has arrived in Parliament. After the Council of Ministers passed the budget for the fiscal year 2083/84, the ministers have also arrived in the Parliament building for the budget speech.

(03:57 PM)

Prime Minister Balad Shah to arrive in Parliament

Prime Minister Balendra Shah is about to arrive in Parliament. His security personnel have already arrived at the Parliament. After the Council of Ministers passed the budget for the fiscal year 2083/84, the ministers are also heading towards the Parliament building for the budget speech.

Prime Minister Balad Shah to arrive in Parliament

(03:51 PM)

Ministers heading to Parliament House after the Cabinet meeting

After the cabinet meeting, the ministers are heading to the parliament building for the budget speech.

(03:48 PM)

Budget for fiscal year 2083/84 approved by Council of Ministers meeting

The budget for the fiscal year 2083/84 has been passed in the Council of Ministers meeting. The Council of Ministers meeting was held at the Prime Minister's Office ahead of the budget speech scheduled for 4 pm on Friday.

Budget for fiscal year 2083/84 approved by Council of Ministers meeting

(03:37 PM)

Finance Minister Wagle will not carry a briefcase during the budget speech this time.

Finance Minister Swarnim Wagle will not carry a briefcase during his budget speech for the upcoming fiscal year 2083/084. He will present the budget in Parliament carrying a file made of Nepali paper. Previous Finance Ministers Barshaman Pun and Bishnu Poudel presented the budget in Parliament carrying bags made of bamboo. -Angad Dhakal 

Finance Minister Wagle will not carry a briefcase during the budget speech this time.

Kantipur

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