Finance Minister Shankar Prasad Koirala announced the annual budget for the Fiscal Year 2013/14 from Harka Gurung Hall of National Planning Commission at Singhdurbar. The total budget for the Fiscal Year 2070/71 has been announced to be Rs 517.24 billion. This is am increment of 5.5 pc from lastfiscal year .
The government has allocated Rs. 16 billion in the budget of Fiscal year 2013/14 for the purpose of holding Constituent Assembly elections on November 19 in a free and fair manner. Similarly, the budget allocated Rs 30 billion for the energy related projects. The projects in the word of Finance Minister has been designed in such a way that it would be acceptable to the new elected government.
“The election of November 19 Constituent Assembly is the number one priority of the government, which has been allocated Rs 16 billion in the upcoming fiscal year 2070/71 BS,” said Finance Minister Koirala in his budget speech.
The budget incorporates limited new programs that are necessary to spur exports, generate energy and boost the morale of the private sector. President Dr. Ram Baran Yadav has approved the budget presented to him by the cabinet.
Some of the highlights of the Budget are as follows:
- To promote public-private cooperation
- Hydroelectricity, agriculture, physical infrastructure, education, tourism, good governance, promoting investment in private sector, improvement in the public service,
- Rs 16 billion for CA poll.
- Rs 16 billion allocated for the security of CA election
- Budget allocated for building Gautam Buddha airport, Pokhara Airport and Nijgadh Airport
- Rs 510 million allocated for the Kalanki-Koteshwor roadway to be expanded into 8-lane
- Budget allocated for other under construction roads
- Vehicle registration cards to be converted into smart card
- Rs 610 million allocated for training over 31,000 youths
- 1 billion allocated for Literacy programs
- Free medical facilities for heart patients above 75 years and below 15 years
- Special recognition from the prime minister to those investing more than 1 billion
- Rs 12 billion allocated for Local bodies
- Rs 210 million allocated to develop sports’ infrastructures
- Rs 30 billion for energy related projects.
- Rs 1.14 billion for Sikta irrigation project
- Rs 5.24 billion for Melamchi project
- Babai irrigation project is expected to complete next year
- Free custom charge for TVs upto 30 inches for returning Nepalis
- 1 pc custom charge for bicycles
- 18% salary hike with Rs 1000 monthly allowance
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