English title translated by Policy Nepal for navigation. The Nepali legal text is authoritative.
- Type
- Act
- Year
- २०८० BS
- Status
- Status not yet confirmed
- Official text
- Official page
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- This is an annual Act passed with the budget. It gives the Government of Nepal legal authority to raise domestic public debt ('national debt') to carry out its financial proposals for fiscal year 2080/81, and came into force on 1 Shrawan 2080.यो बजेटसँगै पारित हुने वार्षिक ऐन हो। आर्थिक वर्ष २०८०/८१ का लागि नेपाल सरकारको अर्थसम्बन्धी प्रस्ताव कार्यान्वयन गर्न राष्ट्र ऋण उठाउने कानूनी व्यवस्था यसले गरेको छ र यो २०८० साउन १ गतेदेखि प्रारम्भ भएको हो। Nepal Gazette (Nepal Rajpatra), Department of Printing, Government of Nepal — scanned gazette issue Preamble and Section 1, PDF pp. 1–2
- On top of the overdraft and other amounts outstanding at the end of fiscal year 2080/81, the government may raise national debt of up to Rs 2,40,00,00,00,000 (two kharba forty arba, i.e. Rs 240 billion). Overdrafts the government may take under other laws do not count towards this limit.आर्थिक वर्ष २०८०/८१ को अन्त्यमा अधिविकर्षबापत तिर्न बाँकी रकम र अन्य तिर्न बाँकी रकममा थप रु. २,४०,००,००,००,०००।– (दुई खर्ब चालीस अर्ब) मा नबढ्ने गरी नेपाल सरकारले राष्ट्र ऋण उठाउन सक्छ। प्रचलित कानूनबमोजिम लिन पाउने अधिविकर्ष रकम यस सीमामा गनिँदैन। Nepal Gazette (Nepal Rajpatra), Department of Printing, Government of Nepal — scanned gazette issue Section 2(1) and proviso, PDF p. 2
- The government may authorise Nepal Rastra Bank to convert the government's outstanding overdraft up to fiscal year 2080/81 into treasury bills. The repayment period and interest rate of debt raised under this Act follow the Public Debt Management Act, 2079.आर्थिक वर्ष २०८०/८१ सम्मको तिर्न बाँकी अधिविकर्षलाई ट्रेजरी बिलमा परिणत गर्न नेपाल सरकारले नेपाल राष्ट्र बैंकलाई स्वीकृति दिन सक्छ। यस ऐनबमोजिम उठाइएको ऋणको साँवा–ब्याज भुक्तानी अवधि र ब्याजदर सार्वजनिक ऋण व्यवस्थापन ऐन, २०७९ बमोजिम हुन्छ। Nepal Gazette (Nepal Rajpatra), Department of Printing, Government of Nepal — scanned gazette issue Section 2(2)–(3), PDF p. 2
Gaps, loopholes and improvement ideas
None documented in the official reports we have reviewed so far.
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.