By Karuna Thapa
Kathmandu, March 21
Agriculture would be given top priority in the next Fiscal Year 2079/80 budget, according to
Finance Minister Janardan Sharma.
Minister Sharma said the Ministry of Finance was focusing on budget formation, speaking at a news conference hosted by the Federation of Nepali Journalists branch office in Rukum on
Monday morning. He claims agriculture would be given top emphasis in the budget.
”We are sure that the agriculture sector will play a significant role in import substitution and export growth,” he added, noting that exports now account for more than 10% of overall foreign trade as of mid-January. He stated that the goal is to raise the percentage of exports by 10% per year.
He also stated that the budget will prioritize infrastructure development to shorten the
distance between big cities and rural areas. He also stated that the funding will be used to
implement the people-centered development strategy.
”We will move on with the infrastructure construction plan so that people can see progress,” he stated.
He also stated that price increases in the worldwide market for gasoline, gold and silver, edible oil, plastics, poles, and porous commodities, as well as freight utilized for vessel and container transportation, had pushed up costs in Nepal.
He promised that the balance of payments deficit would be reduced over time and that the
liquidity crisis would be handled in a matter of days. He said that he has received information that unlawful digital transactions are causing up to Rs. 500 million in Nepali currency to be issued every day.
