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Finance Minister Announced Budget Worth NRs 819.47 Billion For The Upcoming Fiscal Year


KATHMANDU: As per the budget estimates for Fiscal Year 2015/16 the government produced on Tuesday before the Legislature-Parliament, the government has set its eyes transfixed on continuing the earlier projects and programmes meant for economic development while transforming the reconstruction into a new creation.

Finance Minister Dr Ram Sharan Mahat, who read out the budget, said the budget highly prioritized the development of agriculture, tourism and industry sectors that remain the country’s mainstay of economic progress.

The government plans to increase agricultural productivity and slash the expenditure in consumption and divert it to productive sector. In line with the budget, the government will develop capital and mobilize maximum capital in productivity and encourage the private sector for promoting merchandise of comparative benefit and service. The government has stressed on effective supply system management and programmes for encouraging export to downsize increasing trade deficit. The government has allocated a total of Rs 26 billion and 200 million allocation for overall agricultural development for the new financial year.

The budget envisions promoting agricultural industry, arrangement of agricultural technology in every VDC, running cold store centers through cooperatives, commercialization and mechanization of agricultural sector, irrigation management, easy access to fertilizer and seeds, livestock including fish breeding, agro road construction, soil use policy implementation while also prioritizing alternate energy and hydro power production, according to the Finance Ministry. Rs 26 billion and 200 million allocation for overall agricultural development,

The government plans to create employment opportunities for those living pushed under the poverty radar by the massive earthquake and other natural calamities, maximum use of internal resources, progress in economic and social index, effectively completing the reconstruction work by issuing reconstruction bonds, and providing Rs 2.5 million inside Kathmandu valley and Rs 1.5 million outside the valley in loan at a concessional interest rate of 2 per cent, said Finance Minister Mahat.

The government has allocated Rs 42 billion and 450 million for electricity generation citing that industrial sector’s development would not take place without energy generation. In the budget, the government has allocated Rs 12 billion for power transmission line construction and Rs 5 billion in addition for promoting alternate energy sector.

The government will lend all out support to the Constituent Assembly for fast-track constitution writing, necessary budget allocation for local body elections, support to cement industry for access road construction, completing the construction of the postal highway within the next five years, continuity to multi-year contract system, and arrangement for additional budget for projects and programmes facing deficiency in allocated budget on basis of work progress.

As per the budget, the construction of the Pokhara Regional airport will start from the upcoming fiscal year, upgrading of the Tribhuvan International Airport and arrangement for domestic airlines to be operated from airports based outside the valley. The government has emphasized on speeding up the construction of the Gautam Buddha airport regional airport.

Likewise, the government has allocated Rs 1 billion and 960 million for implementing the Chure programme to stop the destruction of the Chure area, construction of six lane roadway in Terai area after feasibility studying on the Infrastructure Road Construction. The government plans to construct ring road at Biratnagar and Nepalgunj and start preliminary work related to the Buddhist Circuit.

The government will initiate necessary works under the theme ‘Development Wave, Facility-laden City’ for creation of cities equipped with modern facilities, while starting ‘Our Dharahara, Our Responsibility Campaign’ for restoration and reconstruction of the historic heritages and management of an open area that can accommodate at least 25,000 people inside the Kathmandu valley. RSS

Please go through below link for detail.

Click to access BudgetSpeech_Final_20150714124417.pdf

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Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point