INSUBCONTINENT EXCLUSIVE:
KATHMANDU, MAY 29In a parliamentary session on Monday, Finance Minister Dr
Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81.
The announcement took place during a joint session of the
National Assembly and House of Representatives in the federal parliament.
Addressing the joint session of the federal parliament this
evening, Finance Minister Mahat stated that the government will allocate 1 per cent of the national budget in Science, Technology,
Budget prioritises increase in capital expenditures: Finance Minister
Budget for health sector increased by Rs14 billion
The allocation of the budget has come in the wake of Mahabir Pun's efforts
Earlier, Mahabir Pun ending his protests had inked a seven-point deal with the government
One of the demands of the agreements was to allocate budget for research and innovation related projects in the country
This is the first time, the government has decided to allocate 1% of total Budget in Science, Technology, Innovation and Research and
The government has also allocated Rs
1 billion for Science, Technology, Innovation and Research
The constitutional requirement obliges the government to reveal the budget on Jestha 15 each year.
Earlier, on Jestha 05, President Ram
Chandra Paudel, the incumbent at the time, had presented the ruling coalition government's policies and programs for the upcoming fiscal
Typically, the government formulates the budget based on its outlined policies and programs, serving as a blueprint for its planned course
This article first appeared/also appeared in https://thehimalayantimes.com