Nepal Rastra Bank Submits 190 Budget Recommendations to Ministry of Finance for Fiscal Year 2081/82
The Nepal Rastra Bank (NRB) has forwarded a comprehensive set of 190 recommendations to the Ministry of Finance for the upcoming fiscal year 2081/82 budget. Maha Prasad Adhikari, the Governor of NRB, disclosed that he presented these suggestions during a session of the Economic Committee under the House of Representatives on Monday. Highlighting the inclusivity of the process, Adhikari mentioned that the recommendations were derived from input collected across all seven provinces. In a concerted effort to gather diverse perspectives, NRB sought pre-budget suggestions from stakeholders in each province, subsequently consolidating them into the 190-point proposal submitted to the Ministry of Finance.
The breadth of recommendations covers a wide array of sectors, with particular emphasis on key areas vital to Nepal's economic landscape. Notably, 19 recommendations are directed towards bolstering the tourism sector, aiming to enhance its competitiveness and resilience. Additionally, 25 recommendations focus on initiatives to support agriculture, animal husbandry, and forestry, aligning with efforts to promote sustainable rural livelihoods. Furthermore, 10 suggestions target the industrial sector, aiming to stimulate growth and innovation within this crucial segment of the economy. Complementing these, another 10 recommendations address monetary and banking affairs, emphasizing the importance of a stable financial framework to support overall economic stability.
Governor Adhikari underscored the commitment of NRB to provide continuous guidance to the government in overcoming regional challenges and fostering inclusive development. He affirmed, "We've consistently offered recommendations to the government aimed at addressing the challenges faced by each province. Our suggestions for the upcoming fiscal year's budget have been presented. We have provided the Ministry of Finance with 190 suggestions, encompassing 19 pertaining to tourism, 25 to agriculture, livestock, and forestry, 10 to industry, and 10 to monetary and banking matters."
