Fin Min Mahat presents Rs 819 billion budget
Jul 14, 2015-
Finance Minister Ram Sharan Mahat presented Rs 819 billion budget for the fiscal year 2015-16 at the Legislature Parliament.
The government has allocated a total of Rs 26 billion and 200 million for the overall agricultural development for the new financial year.
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 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.
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 emphasised 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 Tarai 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.
Published: 14-07-2015 18:23
- annual budget