Budget’s five objectives and 10 priorities

The annual budget tabled in the Federal Parliament on Sunday has fixed five objectives and 10 priorities.

Finance Minister Janardan Sharma said stability, growth in productivity and employment, inclusive development, self-sufficiency and economic prosperity are the goals of the budget.

Gaining high and sustainable economic growth by preparing a production-based economy, and employment creation and poverty alleviation through the integrated mobilization of available natural resources, labour force, capital and technology are the objectives of the budget.

Likewise, building a balanced, inclusive, self-sufficient and socialism-oriented economy through economic and social transformation is also an objective of the new budget.

According to the Finance Minister, the first priority of the budget is the transformation of the agriculture sector.

Growth in production and productivity in government, private and cooperative sectors’ partnership, employment creation and poverty alleviation, innovation-based local economic development and human resource development are also emphasized in the budget as its priority.

Similarly, infrastructure development and capital formation, hydropower development, expansion of transmission grid and rural electrification, industrial development, investment promotion, recovery of the tourism sector and environmental conservation, disaster management and climate change risk reduction are also other priorities of the annual budget.

Finance Minister Sharma stated that public service delivery, promotion of good governance and periodic elections are also included as priorities of the budget. The other priority is scientific research and development.