KATHMANDU, June 4: Finance Minister Dr Yuba Raj Khatiwada claimed that the budget is in favor of all-round development of the country. Khatiwada expressed his belief that the budget will help lead the country toward socialism through prosperity.
Addressing the concerns raised by the lawmakers in the Federal Parliament on Sunday, Finance Minister Khatiwada said that the budget has been allocated to the federal, provincial and local units as per the revenue sharing formula suggested by financial experts. Khatiwada further said that the budget has clear-cut objectives and is aimed at increasing workers' efficiency by improving their health and education.
Khatiwada further said that the budget aims to increase 8 percent income growth, which means half percent hike in the income of the workers. “This will create around 400,000 new jobs in the country.”
According to him, the budget prioritizes production and respects labor, thereby creating more jobs.
Curbing corruption and bad governance, the budget will help lead the country toward socialism based on democratic norms and values, he said. He assured that the government will also work with private sector and cooperatives to boost the economic growth in all the federal, provincial and local levels, said Khatiwada.