Govt unveils Rs 618 billion budget for FY 2071/72

KATHMANDU, July 13:

The government has unveiled Rs 618 billion budget for the fiscal year 2014/15 on Sunday evening.

Minister for Finance Ram Sharan Mahat is presenting the budget, first full-fledged budget with new policies and programs in the last three years, before the parliament.

In the new budget, the government has allocated Rs. 353.42 billion under current expenditure and Rs. 166.75 billion under the capital expenditure heads. Similarly, Rs. 78.72 billion has been released for financial management.



• 25 Megawatts solar plants in Kathmandu and encourage other solar plants

• Proceed the construction of transnational and other transmission lines with high priority

• Allocates Rs 50 million for construction of international airport in Nighgad, Bara

• Procure six aircrafts for international services and 15 aircrafts for domestic air services

• Formulate master plans for development of Pashupatinath and Lumbini

• Expand services of Radio Nepal to all 75 districts

• To lay optical fiber cables along the mid-hill highway

• To construct one library and a science lab in each high school

• Annual Rs two thousands health allowances to elderly citizen above 70 years

• Automation of Nepal Stock Exchange

• Government to assist construction of ethnic museum

•Gradual implementation of international commitments against money laundering

•Developing infrastructure for payment of taxes online

•Expand income tax exemption up to Rs200,000 for single, Rs 300,000 for married couple

• Increases salaries of government employees by 10 percent

Source: Republica