Acceleration of project development to be prioritised

Kathmandu, May 10

The upcoming budget for fiscal year 2019-20 year will focus on enhancing the country’s economic growth and development by accelerating project development, as per Finance Minister Yubaraj Khatiwada.

Presenting the Appropriation Bill 2019-20 in both the Houses of the Parliament today, Minister Khatiwada highlighted the government’s key principles and priorities in the budget for the next fiscal year. Reading out the key principles and priorities for the upcoming fiscal budget, the finance minister said that fiscal 2019-20 will be observed as a year for completing different pending projects in the country.

“With due focus to accelerate project development, the budget will allocate necessary funds for the purpose. The budget will also allocate necessary funds for those projects that have been delayed since years and address the existing hurdles plaguing such projects to ensure that they are completed within 2019-20,” said Khatiwada.

Similarly, the next fiscal budget will also prioritise the construction of mega projects like Fast Track, roadways, railways and waterways, as these projects are crucial to take Nepal’s economic growth to a higher level, he stated.

Similarly, Khatiwada mentioned that the upcoming budget will also lay emphasis on improving and widening tax administration, controlling revenue leakages and maintaining fiscal discipline across all levels of government.

Likewise, the budget will also focus on introducing measures to bring down the doing business cost in the country, and promoting domestic production and exports.