Finance Minister Dr Prakash Sharan Mahat has said that the new budget unveiled today would be a milestone to address the issues pertaining to increase capital expenditure.
Talking briefly to the media after presenting the budget for the fiscal year 2080/081 BS, Minister Dr Mahat said regular monitoring would be carried out for the implementation of the budget headings tabled in the parliament.
"We will take the announced issues into implementation. We will carry out regular monitoring. This shall increase effectiveness of capital expenditure," Minister Dr Mahat argued.
The Finance Minister shared that austerity measures are applied in the general expenditure and non-essential institutions have been dissolved.
He argued that the tax policy is focused by keeping the industry sector into consideration and none of the side is favoured.
The tax rate have been adjusted to increase competitiveness of Nepali industry and business sector, according to the Finance Minister.
Source: National News Agency-Nepal