Government marks 100 days with major reforms and a push toward a 10 trillion rupee economy

KATHMANDU, JULY 3 — The Rastriya Swatantra Party-led government has marked its first 100 days in office by reporting significant economic revival and structural reforms aimed at expanding Nepal’s economy to 10 trillion rupees.

Since Finance Minister Dr. Swarnim Wagle assumed office, the Ministry of Finance has initiated the repeal of 15 outdated laws deemed unfriendly to the private sector, significantly boosting business confidence and revenue collection.

The ambitious economic strategy, originally outlined in the party’s election manifesto under the administration of Prime Minister Balendra Shah, aims for an annual economic growth rate of seven percent and a target per capita income of 3,000 dollars within seven years.

To back this vision, the recently presented 2.114 trillion rupee national budget prioritizes economic revival, digital governance, and middle-class expansion through substantial tax cuts, including doubling the income tax exemption threshold and reducing personal income tax rates by 10 percent.