Kathmandu. Finance Minister Dr Swarnim Wagle is presenting the budget details of the upcoming fiscal year in a joint session of the federal parliament today.

The budget for the coming fiscal year is going to be presented in the parliament as per the constitution provision of presenting the budget for the coming fiscal year on May 29 every year.

According to a senior official at the Ministry of Finance, the government is preparing to present a budget of Rs 1.89 trillion to Rs 2 trillion to boost the morale of the private sector, expand capital expenditure and create employment opportunities. According to him, the budget will be announced focusing on good governance and economic revival.

The National Planning Commission (NPC) had suggested the government to prepare a budget of Rs 1.89 trillion for the coming fiscal year. The National Resource Estimates Committee had increased the budget after the government requested it to review the budget as it would be difficult to prepare the budget within the limits set by the Commission.

The budget has been prepared based on the priorities and principles of the 100-point action plan for governance reforms, government’s policies and programmes and the appropriation bill presented in the parliament.

It is stated that the suggestions given by the lawmakers in both the Houses of the Federal Parliament, the roadmap for good governance of the government, economic reforms, production growth and service delivery have been at the centre stage of the budget.

It is said that the budget will include the increase in the salary of government employees, review of some tax rates, industry-business-friendly policies and programs to encourage the productive sector. Priority has been given to information technology, small and medium enterprises and investment promotion.