The House of Representatives has approved the proposal to consider the 'Finance Bill, 2083'.
Today's meeting of the House of Representatives unanimously approved the proposal put forward by Finance Minister Dr Swarnim Wagle.
Clarifying the issues raised by MPs in the general discussions on the proposal, Finance Minister Dr. Wagle assured that the fees and taxes as provided for in the budget will be spent in the respective areas concerned.
"Since all the state's taxes are collected into a single consolidated fund, there is no need to create separate funds for different projects and programs," he explained.
The Finance Minister said individuals earning an annual income of 1 million rupees are given income tax exemptions and explained that tax rates are set with careful thought to build a long-term economy.
Stating that they support a liberal economy with social justice, he said this budget is based on the principle of the 'capable giving to those who cannot manage'.
"The current government has dared to include in the budget issues that may be seen as unpleasant in the short term but will benefit the country and the people in the long run," he said.
Finance Minister Dr Wagle said that necessary arrangements have been made to marketise and modernize the electricity sector. He also added that the government has been moving relentlessly for good governance and believed that the more formal the economy becomes, the faster its improvement will be.
He clarified that there has been no budget cut in the welfare programs introduced by previous governments in the name of the poor and minorities.
MPs Khushbu Oli, Ganesh Parajuli, Pushparaj Kandel, Ganesh Bahadur Bishwakarma, Harkraj Rai, Gangalaxmi Awal, Indira Ranamagar, Krishnahari Budhathoki, and Guru Prasad Baral participated in the discussion on the proposal and expressed their views.
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