KATHMANDU, MAY 29
In a parliamentary session on Monday, Finance Minister Dr. Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81.
The announcement took place during a joint session of the National Assembly and House of Representatives in the federal parliament.Addressing the joint session of the federal parliament this evening, Finance Minister Mahat stated that microfinance companies will be mobilized in rural areas which do not have access to banking services.
Speaking in the parliament today, Minister Mahat claimed that the microfinance finacial institution will be mobilized in line with the concept of social banking in desolatec areas which do not have banking facilities.
He also said that microfinance financial institutions will be promoted as specialized regional financial institutions.
Fin Min added that through Sana Kisan Bikas Laghubitta Bittiya Sanstha gradually Sana Kisan Enterprise Development Program will be conducted at all local levels.
The constitutional requirement obliges the government to reveal the budget on Jestha 15 each year.
Earlier, on Jestha 05, President Ram Chandra Paudel, the incumbent at the time, had presented the ruling coalition government's policies and programs for the upcoming fiscal year. Typically, the government formulates the budget based on its outlined policies and programs, serving as a blueprint for its planned course of action.
