Budget focuses on production growth, Finance Minister defends

Finance Minister Barsha Man Pun has said that the budget for the upcoming fiscal year 2024/025 was production-focused instead of distributive.

Responding to the queries raised in the National Assembly (NA) meeting on Tuesday, Minister Pun said the budget is focused on institutionalizing the economic achievements obtained in the past while incorporating the objective needs of the country in the changing global context.

He argued that the budget would increase production and create more employment opportunities and expressed confidence that the target of revenue collection would be achieved through coordination.

Minister Pun informed the NA members that a green tax has been initiated and attention has been given to solar and renewable energy, He argued that VAT on imports of onion, potato and apple was replaced to promote domestic production.