Finance Secretary Yub Raj Bhusal said on Tuesday that the government
will prioritize hydropower development, agriculture mechanization and
innovation in tourism through the budget for the fiscal year 2014/15.
Speaking at a function organized by Society of Economic Journalists (SEJON) in the capital, Bhusal also said that the budget will be aligned with 13th three year interim plan and programs.
The National Planning Commission (NPC) has set a ceiling of Rs 596 billion for the upcoming budget. Experts have also suggested the government to introduce some mega projects.
Finance Ministry is planning to table the budget in parliament for approval by the third week of May. It is also planning to introduce second tier economic reforms to attract investment to generate more employment and boost productivity.
Bhusal further said that the government will not increase the tax rate, but expand the area of revenue. Second tier reform will be initiated in the regulatory agencies as well as in tax administration, said Bhusal.
At the function, former finance secretary Shant Raj Subedi suggested to the ministry to establish the revenue board and to enforce anti-money laundering laws to discourage capital flight.
Rajan Khanal, head of revenue division under the finance ministry informed that government should adopt investment-friendly revenue policy for revenue growth.
Source:- Republica
Speaking at a function organized by Society of Economic Journalists (SEJON) in the capital, Bhusal also said that the budget will be aligned with 13th three year interim plan and programs.
The National Planning Commission (NPC) has set a ceiling of Rs 596 billion for the upcoming budget. Experts have also suggested the government to introduce some mega projects.
Finance Ministry is planning to table the budget in parliament for approval by the third week of May. It is also planning to introduce second tier economic reforms to attract investment to generate more employment and boost productivity.
Bhusal further said that the government will not increase the tax rate, but expand the area of revenue. Second tier reform will be initiated in the regulatory agencies as well as in tax administration, said Bhusal.
At the function, former finance secretary Shant Raj Subedi suggested to the ministry to establish the revenue board and to enforce anti-money laundering laws to discourage capital flight.
Rajan Khanal, head of revenue division under the finance ministry informed that government should adopt investment-friendly revenue policy for revenue growth.
Source:- Republica
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