Budget speech: 31 govt bodies to be scrapped, 18 to be restructured

Kathmandu: Finance Minister Dr Swarnim Wagle is presenting a budget speech in the joint meeting of the federal parliament.

Breaking the tradition of enclosing the budget document in a briefcase, Dr Wagle appeared in the parliament with a Nepali paper-made notebook containing the budget document. He informed that the government would ensure an automated increase in salary to civil servants and security officials.

As per the budget speech, 31 government bodies would be scrapped, and 18 others restructured. “A convincing atmosphere will be created for improving the sovereign credit rating of Nepal,” he said, adding that a ‘matribhumi kosh’ (motherland fund) would be set up for establishing an AI factory. Importantly, sunset laws would be in place to give a pace to development works.

He expressed commitment to lift the country out of the grey list. Other schemes he shared are the green energy bond and the launch of lottery schemes to encourage the practice of invoices in transactions.

The government, as the Minister shared, would scrap 360 sorts of excise duties.

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