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PM Oli's government to announce its first federal budget


PM Oli's government to announce its first federal budget

Kathmandu (Nepal), May 29 (ANI): Nepal's Finance Minister Yubaraj Khatiwada will present the first federal budget of the Himalayan nation after completing the three-tier elections held simultaneously last year. Khatiwada will be presenting the budget for the fiscal year 2075-76 on Wednesday addressing the joint meeting of the Federal Parliaments on May 29.

But the economic growth presumed by Finance Minister is hard to meet without increasing the tax levied on the public. Though Nepal unveils its budget every year hardly 50 percent of the total allocated budget is spent on the title it is less spent and is freeze over.

Inflation in Nepal has increased to 6 percent in last eight months of the current fiscal year as compare to 2.3 percent in the last fiscal year.

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