Budget Speech for Fiscal Year 2076/77

Major policies for upcoming fiscal year: Total Budget : Rs 15.32 kharba

Rs 1.63 kharba for education

Rs 68 arba for health sector

Rs 43.46 arba for drinking water

Rs 64.5 arba for social security

Rs 34.80 arba for agriculture

Rs 23.63 arba for irrigation

Rs 15.49 arba for forestry and environment

Rs 22.68 arba allocated for tourism

Rs 2.87 arba allocated for industry

Rs 11.74 arba allocated for commerce and supplies

Rs 89.83 arba for energy

Rs 1.53 kharba for transportation management

Rs 43.73 arba for housing and urban development

Rs 15.85 arba for air infrastructure

Rs 3.99 arba for youth and sport

Speaker of House of Representatives; Krishna Bahadur Mahara announced the date and timing of budget for upcoming fiscal year 2076/77. The budget will be presented by Finance Minister Mr. Yubaraj Khatiwada today 15th Jestha, 2076, Wednesday at 4 o’ clock.

This year’s budget will be Khatiwada’s second presentation on how Nepalese economy will mold in the days to come. Last year, finance minister Khatiwada set the target economic growth of 8%. Many parliamentary members from the party of opposition and few members from the same party out lashed Khatiwada’s budget policy last year labeling it as “extremely optimistic”.

Khatiwada’s assurance of an 8% economic growth did not live up to the expectation. However, recent Nepal Investment Summit and several conferences with World Bank and International Monetary Fund have paved paths for foreign direct investment and infrastructural development.