Substitution Budget: Oxygen and sanitary pad industries to get 100 percent tax exemption for three years
September 11, 2021 01:37 PM NPT
KATHMANDU, Sept 11: The government has introduced a substitution budget for the ongoing fiscal year 2021/22. Finance Minister Janardhan Sharma unveiled the new budget of Rs 1.63 trillion in parliament amid protests of the lawmakers belonging to the main opposition party, CPN-UML, on Friday.
The substitution budget has prepared plans to provide relief funds for the sick, families of deceased in political struggles, families affected by the COVID-19 outbreak etc. The budget also claims to bring the Melamchi Drinking Water project into operation as soon as possible and many more.
In addition, the budget includes a provision for a tax exemption of upto 100 percent on the production of vaccines, medical oxygen and sanitary pads for three years from the beginning of the production. These sectors will get a tax exemption of upto 50 percent for the next two years.