Kathmandu. Finance Minister Dr. Swarnim Wagle has claimed that giving income tax exemption up to Rs 10 lakh is a very revolutionary act.

He claimed that a situation has been created that a youth who is finishing college can get tax exemption even if he earns Rs 1 lakh per month.

Speaking at a program organized by Nafiz today, he claimed that the budget for the coming fiscal year is very small in terms of the size of GDP.

He claimed that the budget was up to 37 percent of the GDP. He claimed that the two-thirds government has also brought a very small budget.

He claims that more than half of the Rs 650 billion loan can be repaid and the net debt is very low.

He complained that he was burdened by the responsibility of the old billions. He argues that when the market is sluggish, it should be kept moving.

He claimed that others had talked about imposing VAT on electricity, but they were working.

He claimed that Zimbabwe will become like Venezuela if the government divides. He claimed that the VAT announced by the government would be imposed at any cost, but would not go back. He claimed that he would appeal to the Electricity Regulatory Commission to adjust the price.

He argued that even if 150 units of electricity were collected, up to 50 units would be free of cost, which would increase by only Rs 24.