आर्थिक दृष्टिकोण

  It has been eight years since Nepal adopted the Federal system and six years since its implementation began. The Constitution of Nepal, 2072 has provisioned the three layers of the governance system: Federal, Provincial, and Local in Nepal. Also, it provides for the distribution of state power and resources among these government units. Besides political and administrative aspects of federalism, the Constitution has also provided the model of Fiscal federalism as one of the major pillars of federalism. The Constitution has adopted the globally accepted principles of fiscal federalism as well. It provides the federal units with revenue rights, expenditure responsibility, revenue sharing, intergovernmental fiscal transfer, and also the bases for foreign assistance and internal loans. Along with the transformation of the political, administrative, and economic structure brought about by federalism in the country, the previous unitary public financial system of the nation has decentr...