Government’s Policies and Programmes Emphasize on Revival of Economy   

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Government’s Policies and Programmes Emphasize on Revival of Economy   

May 24: The government has made public the policies and programs for the upcoming fiscal year with the aim of developing the agricultural sector, reviving the troubled economy and expanding the physical infrastructure. Addressing a joint session of the federal parliament on Tuesday, President Bidya Devi Bhandari made public the policies and programmes of the government.    
The 145-point program highlights the fact that remittance inflow has improved over the past few months and the growth in revenue collection from tourism has been creating a positive environment, despite the external pressure on the economy due to the unfavorable conditions resulting from the COVID-19 pandemic.    
In order to achieve economic growth and sustainability through the combination of fiscal and monetary policies, the government has outlined agriculture, transport, energy, tourism and information technology as the drivers of economic growth. The government has adopted a clear policy of building a resilient economy through special economic recovery programs and keeping inflation within the limits.    
The policies and programmes of the government intend to implement projects from the provincial and local levels except mega projects of national pride and of strategic importance.    
The government plans to conserve, use and distribute natural resources equitably in coordination among the federal, province and local governments. As per the policies and programmes of the government, the basis of economic prosperity will be laid by linking local economies with the national economy.    
The government aims to make policy, legal and systemic reforms to increase domestic production and industrialization by building quality infrastructure, promoting investment, and facilitating business environment.    
The policies and programme have given clear guidelines to include development programmes and projects in the budget on the basis of national priorities. Budget will not be allocated for projects that have not been prepared beforehand and have not been included in the project bank.    
The government has given priority to reviewing the existing tax system, creating a clean, transparent and investment-friendly environment, and facilitating local revenue mobilization. It plans to facilitate credit flow to the manufacturing and employment-oriented sectors.    
For the first time, the government has addressed the issue of formulating a new national agricultural policy for developing the agricultural sector as a major driving force of economic growth and employment. -- RSS

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