Finance Minister Yubaraj Khatiwada presents Rs 1315bl budget in federal parliament

Yubaraj Khatiwada

By Rup Narayan Dhakal : Pokhara—Finance Minister Dr. Yubaraj Khatiwada has presented the budget of Rs 1315.1617 billion for upcoming fiscal 2018-19 at federal parliament in Kathmandu today.

It is the first budget of Federal Democratic Republic of Nepal after the completion of three tiers of elections. Rs 1278 billion of budget had been presented for ongoing fiscal which size is Rs 37 billion smaller than upcoming fiscal that expects the economic growth of 8 percent and 0.5 million employments as well as the 5 percent of inflation rate. The budget expects Rs 800 billion from tax and 202 billion from foreign debt.

As per the budget, civil servants would receive Rs 2,000 per month as dearness allowance. Elderly people above 70 years of age would enjoy health insurance of Rs 7 million and Rs 56 billion have been allocated for total health sector. Similarly, one can bring up to 100 grams of gold from abroad.

One could apply for loan up to Rs 0.7 million in five percent of interest rate putting his/her academic certificate. Visit Nepal 2020 is also a tourism promotion program included in budget. Cigarette and liquor became dearer and the registered company is mandatory for Real-estate transaction as per the budget.

In budget, Rs 313.99bl (23.9%) have been allocated for capital expenditure and Rs 155.72bl (11.8%) for financial purpose. Likewise, Rs 845.45bl (64.3%) have been allocated for current expenditure. Prime Minister Employment Program, Nagarik Arogya Program, Bidhhyalaye Lyaun, sikaun and Tiakun, Madan Bhandari Science and Technology Foundation, President Women Development Program, Jestha Nagarik Aarogya Ashram and Prime Minister Agriculture Modernization Program are some of the new programs in budget to meet the slogan of Prosperous Nepal, happy Nepali.

Similarly, President Chure Conservation Program, Visit Nepal 2020, National Sanitation Campaign Year, Energy Decade, Tarai Madhes Road infrastructure Special Program, Local Infrastructures Development Partnership Program, Human rights in every home, National Identity Card, Bonker to Barrack, Think Tank, High Level Remuneration Commission, Project Implementation Directive Committee and Public Expenditure Review Commission are also included in budget.

Published on: May 29, 2018 6:04 pm

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