KATHMANDU: Finance Minister Yuvaraj Khatiwada has unveiled and is presenting the budget for fiscal year 2019/20 at the federal parliament.
At the budget unveiling programme, Minister Khatiwada apprised the house on the progress in programmes announced in the previous budget and stated that Nepal aimed to achieve the status of a middle income country by 2030.
The budget for 2019/20 has set an economic growth target of seven per cent and focuses on social justice, increment in exports to reduce the trade deficit, and increase in general productivity.
The budget also looks to completing incomplete projects from the current fiscal. Specific standards have been set for the transfer of development projects to provincial and local governments.
Minister Khatiwada said the federal government will working in cooperation with the provincial and local levels, along with the private sectors and cooperatives.
The total fiscal budget has been allocated for education, health, science and technology, agriculture, drinking water and hygiene, social security, tourism, industry, commerce and supplies, among other sectors.
(Details to follow)
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