Nepal | June 03, 2020

Cabinet meeting discusses govt’s policies and programmes to be presented on May 15

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KATHMANDU: The Cabinet meeting today discussed the government’s policies and programmes to be presented for the upcoming fiscal on May 15 and the annual budget on May 28.

The meeting of the Council of Ministers held at the Prime Minister’s official residence in Baluwatar, Kathmandu decided to appeal to President Bidya Devi Bhandari to address the joint meeting of House of Representatives and National Assembly members, at 4:00 pm on Friday, informed Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai. The government’s policies and programmes will be presented amid the meeting.

The meeting is expected to discuss the government’s policies and programmes, and the budget for the upcoming fiscal year that would chiefly dwell on resolving multi-lateral effects caused by the COVID-19 pandemic and ensure the achievement of economic and developmental goals.

Along with this, the budget will also focus on expansion of health infrastructure, revival of the economy with necessary encouragement to the private sector, promotion of capital formation, job creation, and achieving social justice through good governance.

It has been learnt that the government is looking forward to adopting austerity measures in public expenses amid revenue shortfall.

The budget and resource allocation will focus on executing the 15th periodic plan of the government, achieving sustainable development goals, and Nepal’s goal of graduating from the least developed nation status.

Furthermore, the government has planned to adopt monetary and financial instruments through the budget to cope with and reduce the impact of COVID-19. The government will also raise tax range for the upcoming fiscal while tax rates will not be revised.

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