Himal Press 
KATHMANDU: The House of Representatives has passed the Economic Bill, 20२६.
The proposal to endorse the bill, presented by Finance Minister Swarnim Wagle, was approved by a majority in the meeting of the House of Representatives on Sunday.
Earlier, responding to questions raised during discussions on amendments to the bill, Minister Wagle said the government would place special emphasis on budget implementation. He expressed confidence that the long-running problem of low capital expenditure would come to an end from the new fiscal year. Wagle also clarified that the taxes imposed by the government would not adversely affect low-income citizens.
“The government has introduced an ambitious budget aimed at improving the economy. Its positive impact will be seen from the coming fiscal year,” Wagle said, adding that a high-level study committee will be formed to examine the issue of multiple VAT rates. “The ministry will take necessary decisions based on its recommendations.”
Wagle said the government would manage budget expenditure through domestic resources and that emergency measures could be adopted if revenue collection faces difficulties due to unforeseen reasons.
“We have decided to impose a fee on ride-sharing services because this business involves transactions worth billions of rupees. The government has attempted to bring such services within the tax net by putting in place a necessary policy framework,” he added.
Some of the amendments proposed to the Economic Bill were withdrawn, while others were rejected. A few amendments, however, were accepted.
