Kathmandu, June 19: The House of Representatives (HoR) has approved the proposal seeking consideration of the Finance Bill, 2083. The proposal, presented by Finance Minister Dr Swarnim Wagle, was unanimously endorsed during today’s meeting of the House of Representatives.
Responding to concerns raised by lawmakers during the general discussion on the bill, Finance Minister Dr Wagle assured the House that fees and taxes collected under the budget would be utilized in their respective sectors.
He explained that all state revenues are deposited into a single consolidated fund, making separate funds for individual projects and programmes unnecessary.
The Finance Minister noted that individuals earning up to Rs 1 million annually are eligible for income tax exemptions and stated that tax rates have been designed carefully to support long-term economic stability and growth.
Emphasizing the government’s commitment to a liberal economy with social justice, Dr Wagle said the budget is guided by the principle that those with greater capacity should contribute to supporting those who are less able to manage on their own.
He further stated that the government had incorporated several policy measures in the budget that may appear challenging in the short term but are expected to yield long-term benefits for the country and its citizens.
According to the Finance Minister, necessary arrangements have been made to modernize and commercialize the electricity sector. He also stressed the government’s continued efforts to promote good governance, expressing confidence that greater formalization of the economy would accelerate economic improvement.
Dr Wagle clarified that the budget has not reduced welfare programmes introduced by previous governments for disadvantaged communities, including the poor and minority groups.
During the discussion, lawmakers including Khushbu Oli, Ganesh Parajuli, Pushparaj Kandel, Ganesh Bahadur Bishwakarma, Harkraj Rai, Gangalaxmi Awal, Indira Ranamagar, Krishnahari Budhathoki, and Guru Prasad Baral expressed their views on the proposal. #nepal
