Finance Minister Khatiwada presents fiscal year 2019/2020 budget (Live)
May 29, 2019 04:05 PM NPT
KATHMANDU, May 29: Finance Minister Yubaraj Khatiwada is presenting the fiscal year 2019/20 budget in the Federal Parliament Building in New Baneswor.
This is the second federal budget of the current government led by KP Sharma Oli.
While the Finance Minister Khatiwada had largely resisted pressure from within the party to introduce populist programs in the current fiscal year 2018/19, he is likely to raise social security allowance, increase the salary of government staffs and give continuity to a program that provides funds to parliamentarian for development works in their constituencies.
According to a source at the MoF, Finance Minister Khatiwada has prepared a budget aligning it with the ruling party Nepal Communist Party's election manifesto.
The budget size is also going to increase in the upcoming fiscal year despite widespread criticisms of the government for its failure to execute the budget. The government is going to introduce the budget of over Rs 1.58 trillion for the upcoming fiscal year, up from the current fiscal year's budget of Rs 1.315 trillion.