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Nepal govt’s annual policy aims at preparing foundation for prosperity next fiscal year

President Bidya Devi Bhandari presents the government’s annual policy and programme, at Parliament meeting, on Monday, May 21, 2018.

Kathmandu, May 21

The government on Monday presented its annual policy and programme for next fiscal year, which will begin in mid-July, aiming at preparing a foundation for the country’s prosperity.

The document read out by President Bidya Devi Bhandari on behalf of the the government at a joint meeting of the House of Representatives and the National Assembly says the next year will be celebrated as the ‘foundation year for the history of prosperity’.

The annual policy and programme, which will be the basis for annual budget statement that the government will present before the House next week, is focused on big infrastructural development projects. It has a clear hint that the budget statement to be presented by the communist party’s majority government will discourage pro-distribution spending.

The statement, in overall, looks more moderate than expected from the left government. Analysts say this is technocrat Finance Minister Yubaraj Khatiwada’s control over ambitious Prime Minister KP Sharma Oli. Further, Khaitwada has tried to correct the course of national economy he had portrayed in a controversial white paper around two months ago.

Main opposition leader and immediate past Prime Minister Sher Bahadur Deuba has said the policy just presents a clarification of its position, but lacks a concrete plan for implementation. Other parties and economists have not openly criticised the policy yet.

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