Speaking at a program organized to provide guidance to nine revenue advisory sub-committees in Kathmandu on Tuesday, Minister Mahat also directed the sub-committees to come up with expected results and suggest revenue policy and incentives for promoting export which has seen continuous decline over the past few years.
Fiscal revenue policies are formed as per the recommendation of the sub-committees. These sub-committees study different issues like investment, export promotion, revenue leakage, banking and financial institutions, among others. Mahat also asked the sub-committees to make suggestions in revenue policy so as to make Nepali products more competitive and qualitative.
Mahat also said that the country's dependence on foreign assistance has decreased to 17 percent of total annual budget from 35 percent of two decades ago.
As part of the budget preparation, the revenue advisory committee led by Joint Secretary Laxman Aryal will also start discussion with the local businesspeople and industrialists in the regional level from the first week of May.
Meanwhile, Finance Minister Mahat held a meeting with the secretaries of development related ministries and asked them to accelerate capital expenditure.
Capital expenditure in the first nine months of fiscal year 2014/15 stands below 25 percent.
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