Encouraging suggestions received from across the country: MoF

The Ministry of Finance (MoF) has said that suggestions have been collected in an encouraging manner from the toll free number 1138 operated with the objective of assisting in the preparation of the budget for the upcoming fiscal year 2022/23.

The Ministry said it received encouraging suggestions from most districts across the country.

The Ministry has also said that it will study these suggestions and include them in the next budget based on the genuine needs for the economic development of the country.

Finance Minister (FM) Janardan Sharma said that the toll free number 1138 has been brought into operation with the objective of collecting suggestions from the people of all regions and the suggestions made in it are making a significant contribution in the preparation of the upcoming budget.

Under the leadership of FM Sharma, the MoF is currently focusing on budget formulation. The budget for the current fiscal year is scheduled to be unveiled on May 29.

The public has suggested that the budget should be introduced with a plan to treat water and sell it abroad, increase investment in hydropower, pay attention to irrigation while allocating budget and return the budget without forcibly spending the budget.

They suggested that the budget should be allocated for the development of the tourism sector and making arrangements for foreign tourists to reach rural areas directly by promoting homestay, as well as making it people-oriented.

They also suggested that the environment should be made to provide loans to general people from banks easily.

The public has suggested that the fee for filling up IPOs by phone be free of cost and that the tax on bringing an electric vehicle be reduced.

Electric vehicles worth less than Rs. 1 million should be exempted from customs duty, stock market should be improved by giving broker license to banks, vegetables produced in the country should be sold abroad, personal income tax exemption should be increased to Rs. 600,000 and Rs 800,000, they suggested.

Similarly, it has been suggested that budget allocation be made to address the farmers of the village, to transform cooperatives, along with the provision of productive training to cooperatives and groups.

In order to reduce the import of petroleum, the people have suggested that subsidy and tax exemption be given on electric vehicles, loan be provided for small businesses and customs exemption be given on two-wheeled electric vehicles.

According to the MoF, it has been suggested that the budget be formulated to end the situation of having to buy food from abroad and increase local production.

Source : TRN,