FY 2024/25 Budget: High-level taskforce for structural reforms of economy

Kathmandu- The government has set five strategies and five priorities of the budget and outlined five strategies for economic reforms in the upcoming fiscal years.

According to the budget estimates for the upcoming fiscal year presented by Finance Minister Barshaman Pun before a joint sitting of the Federal Parliament today, increasing production, productivity, and employment, securing investment and growth and accelerating economic activities by boosting the morale of the private sector, achieving the human resource development, alleviating economic disparities and poverty though the balanced and just mobilization of resources and increasing the effectiveness of the public service delivery have been presented as the five objectives of the budget for the new fiscal year.

Similarly, economic reforms and the encouragement of the private sector, construction of industrial infrastructure such as agricultural energy information technology, development of education, health-like social sector, promotion of inclusion, social security, and good governance, and the enhancement of public service system are cited as the five priorities of the government for the upcoming fiscal year.

Structural reforms, improvement in the business environment, reforms in the public finance system, financial sector reforms, and reforms in public administration are mentioned as the five strategies for economic reforms. As the budget announced, a high-level task force will be formed to provide submissions to the government for structural reforms of the economy. Likewise, the government pledges to enact favourable policies, complete country rating, and eliminate dual taxation to promote an environment conducive for business in the country.