Budget is a guiding document for all sectors of economy: Finance Minister Sharma

Published On: June 2, 2022 09:20 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 2: Finance Minister Janardan Sharma has claimed that the budget is a guiding document for every sector.

Responding to the queries raised by the lawmakers in the National Assembly meeting on Wednesday, Minister Sharma stated that the budget was increased by 9.68 percent this year. Generally, the budget is increased by 10 percent every year. 

Resources must be mobilized well for boosting production and productivity, he said, adding that budget has focused well on commercialization and mechanization of agriculture

Minister Sharma said that cooperation from all three layers of government is necessary to fully explore agricultural potential. “The priority to agriculture is given both in policy and programs and the budget,” he said, adding that time has come for us to increase industries to prop up the national economy.

Minister Sharma also said that the government would provide incentives for export but not grant. He argued that the budget was focused on creation of employment and solution of present problems relating to it. The scheme of pension to farmers was raised for respecting farmers and agriculture.

As the COVID-19 has subsided, there is a huge potential for tourism. If infrastructures are set up in the Sagarmatha area, it would help boost tourism.

Similarly, he informed that the budget incorporates issues of distributing land ownership certificates to the landless while prioritizing cooperatives to link with production.

Adequate and utilizable budget was allocated to the national pride projects. The budget to be sent to the lower tiers of government was increased by 11 percent, he said.



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