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'Budget to Focus on Social Justice and Self-Reliant Economy'   

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'Budget to Focus on Social Justice and Self-Reliant Economy'   
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May 18: The government is set to present the upcoming fiscal year's budget with a vision towards building an independent economy with a focus on social justice and rural development.  Laying emphasis on developing socialism-oriented economy, the government has set its policy to generate employment opportunities for youths within the country and increase agricultural yields.    
Minister for Finance Janardan Sharma shared this while presenting the principles and priorities of budget and programme to be included in upcoming fiscal year's Appropriation Bill during the House of Representatives meeting on Tuesday.    
On the occasion, Minister Sharma further noted that the constitutional ideals, parameters and directives including democratic republic, federal governance system, inclusion, socialism-oriented economy have been taken into consideration while formulating the budget proposal.    
He clarified that the government would focus on allocating adequate resources in prioritized sectors, enhancing allocation efficiency for ensuring result-oriented execution of appropriated budget, boosting institutional capacity and maintaining financial discipline.    
As per the principles and priorities, the government is to focus on proposing budget only in the financially and technically feasible projects and cutting off public spending on unproductive sectors, the minister added.  

According to the minister, the budget will be pro-people and service-seeker friendly and will be centralized in ensuring smooth public service as well as increasing the use of information technology in service delivery. It will also focus on promoting good governance by checking corruption and irregularities. "The priorities are ultimately meant for enhancing public trust towards government," the minister explained.    
He further said the new budget would put measures for productive economy by improving existing tax system. Focus would be laid on increasing the share of inland revenue to the national revenue portfolio, Minister Sharma said, adding the budget has set a long-term goal of making tax system sustainable by expanding scope of tax, checking revenue leakage and ensuring further reforms in tax system.    
Likewise, the policies will be formulated for utilizing public debt in national priority areas, productive sectors and capital formation while foreign aid will be channelized only towards national priorities and capital formation, the document states. -- RSS   

 

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