Finance Ministry's new action plan for nation's better future

The Ministry of Finance has prepared an action plan for the implementation of policy priorities and minimum programs. In the action plan, policies and programs, activities, milestones, resources, time limits and approval evaluation indicators are mentioned.

It has been reported that the plan reports on effectiveness in revenue collection for the implementation of policies and programs, to make the revenue system more progressive, to maintain commercial neutrality while changing revenue rates, and to control revenue leakage.

It is mentioned that financial policy and monetary policy will be formulated so that the country's economic growth and economic stability will be maintained, necessary decisions will be made regarding expenditure reduction, organization and management surveys will be agreed upon for the construction of non-essential structures.

It is mentioned that after identifying the incomplete and stalled projects, if a proposal is submitted from the relevant agency with the necessary plan for its operation, then the process to manage fluctuations in foreign investment will be started.

In the action plan, provisions have been made to make necessary improvements in the ministry's agencies based on the suggestions received from the self-evaluation report and other reports related to foreign exchange, revenue policy, government subsidies, non-modification of bank loan policy, prevention of asset laundering and financing of terrorist activities.

It is mentioned that in the next five years, the foundation of economic growth will be prepared, policy coordination between the three levels of government will be established, customs rates will be reviewed, closed government institutions will be studied and brought back into operation.

Provisions have been made in the policy and program implementation plan to bring the commodity exchange market and its infrastructure into operation, assist small and medium-sized companies in capital mobilization, and improve the financial sector.

In addition to the policy priorities of the additional government and the action plan for the implementation of the minimum program, the Ministry has also prepared and implemented the action plan of the points related to the Ministry of Finance under the instructions given by the Prime Minister Pushpa Kamal Dahal to the secretaries of the Government of Nepal.

In the action plan, it is mentioned that the allocated budget for transformational and national plans should not be shortchanged, and the funds allocated for transformational and national pride projects should not be diverted to other programs. It is also mentioned that the Internal Revenue Department and the Customs Department will mobilize revenue according to the target, and make policy reforms for revenue mobilization according to the target.

Anand Kafle, spokesperson of the Ministry of Finance, said that both the action plans will be implemented effectively and will be reviewed.