Post Gen Z movement budget: Overambitious, little realistic
Summary
Nepal's latest national budget of Rs 21.24 trillion, presented by the Gen Z supported government and economist Dr. Swarnim Wagley, is criticized for being overambitious and unrealistic, with a large deficit and insufficient capital expenditure.
Key Points
- Nepal's national budget for the year is Rs 21.24 trillion with a deficit of Rs 6.57 trillion.
- The capital expenditure is alarmingly low at Rs 431 billion compared to running expenditure of Rs 12.7 trillion.
- Revenue projection of Rs 14.05 trillion is considered overly ambitious and unlikely to be met.
- The budget imposes new taxes such as a 5% VAT on electricity consumption above 50 units and a 3% equity fee on education and health, which has raised concerns.
