Finance Minister Sharma looks to announce new budget for FY 2021/22

Published On: July 25, 2021 05:40 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, July 25: The government is looking forward to announcing a new budget after it received a vote of confidence from parliament last week.

The Sher Bahadur Deuba-led government which was formed following the Supreme Court's mandamus secured a total of 165 votes in parliament. It paved the way for Prime Minister Deuba to remain in the government for the next around one and a half years.

According to officials of the Ministry of Finance (MoF), the ministry held a talk with former finance ministers — Shanker Koirala, Barsha Man Pun and Surendra Pandey - on the issue on Sunday. “The newly-appointed Finance Minister Janardan Sharma has sought to reduce the existing size of the budget and launch additional packages for the COVID-affected businesses,” an MoF source said.

The budget presented by the erstwhile KP Oli-led government has been criticized for being brought through an ordinance at a time when Oli dissolved parliament just a few weeks before the budget announcement date on May 29. The budget is also criticized for being extravagant, populist and election-oriented.