Budget Priorities

In a departure from the past practices, the government has unveiled the principles and priorities of budget for the fiscal year 2024/25 three months before it is presented in the House of Representatives. In the previous years, the principles and priorities were presented barely two weeks before the annual outlay was read out in the parliament. Now the lawmakers will have adequate time to debate and add suggestions to the new budget. Highlighting its key features in the House on Monday, Finance Minister Dr. Prakash Sharan Mahat said it would accord priority to boost public expenditure so that productive sector gets a fillip and more employment opportunities are created. The vision of constitution, election manifestos of the ruling parties and their common minimum programme have guided the Finance Ministry in formulating the budget that is expected to boost private sector confidence and accelerate the post-pandemic economic recovery.