Government Unveils 21 Trillion NPR Budget, Prioritizing Private Sector Growth
Summary
The government has unveiled a 21.24 trillion NPR budget for the upcoming fiscal year, emphasizing private sector-friendly policies such as tax exemptions, investment facilitation, and energy sector reforms to stimulate economic growth.
Key Points
- The government presented a 21.24 trillion NPR budget, increasing only slightly from the previous year.
- Income tax exemption limit doubled to 10 lakh NPR and excise duty abolished on 360 items to provide relief to citizens and industrialists.
- The budget promotes private sector growth with policies like Investment Express, energy sector private participation, and innovation funding.
- A 13 percent VAT on electricity consumption raised concerns from the private sector despite overall positive reception of the budget.
