Government to unveil Budget for the fiscal year 2021/22 today
29 May 2021, Saturday- The government of Nepal will be unveiling its annual budget today for the fiscal year AD 2021/22 at around 4 pm in a program being held at Singha durbar. The project is being legislated through an ordinance and will be read out by the Finance Minister, Bishnu Prasad Poudel.
This budget is expected to be primarily focused on the control of the COVID-19 pandemic and reviving the economy that has had massive setbacks over the last year. The nation has been battling with both coronavirus as well as political mess over the past six months. The budget is being brought out to the public despite proper preparations and in absence of a majority government. The budget is expected to be a size of around NRs 1600 billion.
The prime minister on Friday made a statement to the public with plans and programs of this year’s budget. He expressed commitment to announce several programs including an increment in social security allowance as well as minimum wage for the workers. However, opposition and economists have warned the government to not bring the budget in full as ordinance enacted budgets do not have the authority to introduce new projects as well as revise tax systems.
The budget is being carefully watched by economists, opposition parties, and the public as the nation is battling with the harsh reality of Corona as well as the instability of the government. The government has been warned not to announce programs that impact the announcement mid-term polls that are due this November.