KATHMANDU, May 29: The government has increased the budget for the health sector by Rs 14 billion in the new budget for the Fiscal Year (FY) 2023/24. Unveiling the new budget at a joint session of the Federal Parliament on Monday, Finance Minister Dr Prakash Sharan Mahat said that a total of Rs 83.99 billion has been allocated for the health sector. The government had allocated Rs 69.38 billion for the health sector in the FY 2022/23. Additionally, the government had transferred Rs 6.26 billion to the province levels and Rs 27.44 billion to the local levels. The government had…
Author: acetech
KATHMANDU, May 29: The government has removed the minimum thresholdor foreign investment in the information technology sector. Unveiling the budget for the Fiscal Year (FY) 2023/24 at a joint session of the Federal Parliament on Monday, Finance Minister Dr Prakash Sharan Mahat said that the minimum threshold of foreign investment will be reviewed and sectoral limits will be determined. Minister Dr Mahat also said that the minimum threshold of foreign investment in the information technology sector will be removed. He said that the industry providing information technology services will be allowed to match up to 10 percent of the foreign…
KATHMANDU, May 29: Finance Minister Dr Prakash Sharan Mahat has emphasized prioritizing agriculture, tourism, and development projects for broad economic growth. The finance minister made such remarks while presenting the budget for the FY 2023/24 on Monday. The government’s highest priorities in the next fiscal year would be modernizing agriculture, developing the tourism sector, and supporting completion of development projects. He assured to ensure quality social development, security and justice system, creating an investment-friendly environment and raising the morale of the private sector. The finance minister said that by creating income and employment opportunities, poverty will be alleviated and macroeconomic…
KATHMANDU, May 29: The government has doubled the budget for the procurement of chemical fertilizers. Finance Minister Dr Prakash Sharan Mahat announced the allocation of Rs 30 billion for the purchase of chemical fertilizers for the coming financial year through the budget of the FY 2023/24. The government had allocated Rs 15 billion for the purchase of chemical fertilizer in the FY 2022/23, while the amount stood at Rs 12 billion in the FY 2021/22. Similarly, the budget allocated for the purchase of chemical fertilizers in the FY 2020/21 was Rs 11 billion.
KATHMANDU, May 29: The government has announced that it will not buy new vehicles in the next fiscal year (FY) 2023/24. Instead, the government is going to auction the unused vehicles and goods in the government offices within six months. Presenting the budget for the fiscal year 2023/24 in the joint session of the Federal Parliament, Finance Minister Dr Prakash Sharan Mahat said that unused vehicles and goods in government offices will be auctioned within six months. The fuel facility given to government officials will now be given in cash subject to approval from the concerned officials.
KATHMANDU, May 29: At the joint session of the federal parliament on Monday, Finance Minister Prakash Sharan Mahat announced that Nepal’s recurrent expenditure has surpassed Rs 1.225 trillion. Additionally, revenue collection is anticipated to decline by six percent in FY 2023/24. The aftermath of the COVID-19 pandemic, coupled with the ongoing Russia-Ukraine conflict, declining demand, and negative impacts on various economic activities, has created a formidable economic landscape for Nepal. These challenges have been further exacerbated by the depreciation of the Nepali currency, resulting in a significant increase in prices. In the fiscal year 2022/23, the total government expenditure was…
KATHMANDU, May 29: Finance Minister Dr Prakash Sharan Mahat is presenting the budget for the Fiscal Year (FY) 2023/24 at the joint session of the federal parliament. A cabinet meeting held earlier today had approved the budget for the FY 2023/24.
Kathmandu- Former parliamentarian Resham Chaudhary has said that he is also suffering like the families of those killed in the Tikapur incident. Although the Supreme Court upheld the sentence of life imprisonment in the Tikapur case, Resham, who was freed after receiving amnesty on the recommendation of the government, said, ‘The pain is also felt by Resham who wears 21 kg nails.’ Full text of Resham Chaudhary’s statement after his release from prison: Regarding the Tikapur incident, experts who know the definition of law will explain. However, keeping an innocent person rotting in prison for years is a complete introduction…
KATHMANDU, May 29: Citizens’ access to finance has increased significantly in the country of lat, according to the data shown by the economic survey, 2022/23 released by the government on Sunday. Although the incidents of bank mergers are also on rise, the expansion of banking and financial institutions is wider, thereby ensuring citizen’s financial access. Till Falgun 2079, the number of depositors stood at 49205,000 while the number of credit accounts stood at 1.8 million. There are 20.6 million mobile banking users. As many as 1.7 million people received internet banking service till this period, according to an economic survey.…
Kathmandu – The 16th Republic Day has been celebrated in Tundikhel. In the presence of President Ramchandra Paudel, the Republic Day was celebrated by holding a Republic Day ceremony at Sainik Manch in Tundikhel. On the occasion of the Republic Day, the President, Vice President, Prime Minister, Speaker, Speaker of the National Assembly and heads of various political parties have expressed their heartfelt congratulations and best wishes to all Nepali sisters and brothers at home and abroad on the occasion of the Republic Day. They have paid emotional tributes to the martyrs who sacrificed their lives in the movement to…