Kathmandu, May 29. Finance Minister Yubaraj Khatiwada is presenting the budget for fiscal year 2019/20 in Parliament today at 4:00 PM.
Khatiwada is in pressure of taking some bold decisions. Though he has some strong determinant to move forward the country investing only on right areas, but the pressure of his own party leaders is demanding populist budget. With 6 percent growth for three consecutive years and 7 percent growth projection (Economic Survey 2018/19), he is in challenges of sustaining high growth in coming years.
Finance minister has to address the ambitious plans of the present government. And, at the same time he has to distribute enough money for the development of infrastructure.
The business community is demanding sufficient budget for basic infrastructural development. “The infrastructures of our country are so weak and fragile that neither roads nor the customs is in properly functioning. Though it is the condition but ironically government can’t spend its development budget.” said Shekhar Golchha, senior vice-president of the Federation of Nepalese Chambers of Commerce and Industry.
Maintaining fiscal discipline is another challenge for the fiscal minister. Only by maintaining it favorable environment for foreign and large scale investment could be attracted.