Nepal Budget FY 2019-20 Triggers High Prices on Commodities

The prices of daily commodities have increased significantly, a week after the Nepal Government announced the fiscal budget FY 2019-20.

A few entrepreneurs have hiked the prices of goods stating that the government has increased the VAT on import of institutional vehicles.

Prices of commodities such as the price of cooking oil, rice, pulses, vegetables, and fruits have increased drastically.

According to Nepal Consumer Rights Investigation Forum Madhav Timalsena, businessmen raised the prices of daily commodities after the new budget increased the taxation on import of vehicles and increased government employees’ salaries.