59. Exercise of financial powers: (1) The Federation, State and Local level shall make laws, make annual budget, decisions, formulate and implement policies and plans on any matters related to financial powers within their respective jurisdictions.
(2) The Federation may so make necessary policies, standards and laws on any of the matters enumerated in the Concurrent List and other areas of financial powers as to be applicable also to the States.
(3) The Federation, State and Local level shall make budget of their respective levels, and the time for submission of budget by the State and Local level shall be as provided for in the Federal law.
(4) The Federation, State and Local level shall provide for the equitable distribution of benefits derived from the use of natural resources or development. Certain portions of such benefits shall be distributed, pursuant to law, in forms of royalty, services or goods to the project affected regions and local communities.
(5) If, in utilising natural resources, the local community desires to make investment therein, the Federation, State and Local level shall accord priority to such investment in such portion as provided by law on the basis of the nature and size of such investment.
(6) The Government of Nepal shall have power to obtain foreign assistance and borrow loans. Such assistance or loans shall be so obtained or borrowed as to have macro-economic stability of the country.
(7) Provisions relating to the management of budget deficits and other fiscal discipline of the Federation, State and Local level shall be as provided for in the Federal law.