The Ministry of Finance started the preparation of budget for the Fiscal Year 2078/79.

Kathmandu, March 5

According to ministry sources, a budget writing committee has been formed under the coordination of Senior Joint Secretary of the Ministry, Dr Ram Prasad Ghimire. The committee headed by him has joint secretaries Rameshwar Dangal, Shrikrishna Nepal, Dhaniram Sharma and Suman Dahal as members.

All ministries, bodies and commissions are also preparing proposals for the new budget. By incorporating these proposals, finance will finalize next year’s budget.

Earlier, former finance secretaries had suggested focusing on the budget for the coming fiscal year to revive the economy, which was in a state of crisis due to the Covid-19 epidemic.

He also urged to give special emphasis on infrastructure expansion and capacity building in the health sector. On the suggestion of the secretaries, Finance Secretary Shishir Dhungana said that the budget for the coming fiscal year would be focused on reviving the troubled economy from COVID-19.

In the current yearbudget, the private sector had high expectations for relief and rehabilitation, but the budget disappointed them. Experts say the budget should be targeted as Corona’s impact on the economy will continue into next year.

Even though the preparation of the new budget has been started, it is difficult to estimate the source this time, say the officials related to the Ministry of Finance.