Kathmandu. KATHMANDU: A meeting of the House of Representatives (HoR) today endorsed the proposal seeking consideration on the ‘Finance Bill-2083’.

A meeting of the House of Representatives today proposed the proposal tabled by Finance Minister Dr Swarnim Wagle.

Clarifying the issues raised by the lawmakers during the general discussion on the proposal, Finance Minister Dr Wagle assured that the fees and taxes provisions in the budget would be spent in the related sector. “There is no need to create separate fund for different projects and programmes as all the taxes of the state are deposited in a single consolidated fund,” he said. ”

Stating that income tax exemption has been given to those earning Rs 10 lakh annually, he said the tax rates have been determined with the objective of building a long-term economy. On the occasion, Finance Minister Dr Wagle said that they are the advocates of liberal economy with social justice and this budget is based on the principle of providing to those who can’t.

“The present government has the courage to include topics that are considered unpleasant in the short term but benefit the country and people in the long-term in the budget,” he said. On the occasion, Finance Minister Dr Wagle said that necessary arrangements have been made for marketization and modernization of electricity sector. He said the government was moving ahead in a ruthless manner for good governance.

He was of the view that the more formalized the economy, the faster the economic recovery would be. He made it clear that there was no budget cut in the welfare programmes brought by the previous government in the name of poor and marginalized communities.

Lawmakers Khusbu Oli, Ganesh Parajuli, Pushpa Raj Kandel, Ganesh Bahadur Bishwakarma, Harka Raj Rai, Ganga Laxmi Awal, Indira Rana Magar, Krishna Hari Budhathoki and Guru Prasad Baral took part in the discussions on the proposal and put their views on it.