18.12¡ÆC
<p>Finance Minister Bishnu Paudel has this afternoon presented the annual budget for the next fiscal year 2016/17.</p><p>Beginning his announcement at the Parliament, the Minister said he prepared the budget in consultation with political parties, former finance ministers and various stakeholders among others.</p><p>He said the earthquake in 2015 incurred a great loss to the nation and it also affected the fiscal budget including capacity to spend development funds. He said import and export both decreased in the current fiscal year. However, the stock market has been dynamic and the internal capital market has been strengthened, he claimed.</p><p>The principal objectives of the next fiscal’s budget are to implement the Constitution, to reduce poverty and to expedite development works, according to Finance Minister Paudel. He also announced that the post-earthquake reconstruction, hydropower, forestry and good governance are among priorities of the next budget.</p><p>Likewise, the government also reiterated its desire to hold the local elections in November-December this year.<br>FM Paudel said Rs 140 billion has been allocated for the post-earthquake reconstruction.<br>Similarly, the government also announced the ambitious plan to end load shedding within two years and generate 10,000 megawatt hydropower within 10 years. For this end, the government will expedite constructions of ongoing and planned hydro projects in various parts of the nation.</p><p>Likewise, all capitals of seven provinces will be connected via road networks. Roads connecting iconic places in various parts of the nation have been prioritised. Rs 4.2 billion has been allocated for the Postal Highway whereas Rs 10 billion has been allocated for Kathmandu-Nijgadh fast track. The government also allocated necessary budget for Humla-Simikot road in Karnali. All roads of the nation would be categorised as federal, provincial and local roads.<br>Likewise, the government said it would carry out feasibility studies to introduce railways in various parts of the nation.</p><p>Each district headquarters would get Rs 500 million for urban development. The government also introduced the concept of ‘One City: One Identity’. Likewise, it will develop Bhaktapur as the Cultural City.</p><p>The government will implement the Prime Minister Agriculture Modernisation Project. Rs 5.78 billion has been allocated for the project. Rs 8.46 billion has been allocated for livestock development.</p><p>Similarly, Rs 630 million has been allocated for conservation of forestry and Rs 1.88 billion has been allocated for the Chure conservation while Rs 380 million has been allocated for development of community forests.‘One Province: One Zoo’ programme would be introduced while a national zoo would be established in Suryabinayak of Bhaktapur.</p><p>Likewise, Rs 2.30 billion has been allocated for irrigation projects in Tarai districts. The remaining tasks of big under-construction irrigation projects will be completed within three years and Rs 5.35 billion has been allocated for them. The government said fisheries will also be established in irrigation canals.</p><p>The government said the arable land could not be left uncultivated and owners of such uncultivated lands would be fined. Lands will be categorised into various categories in terms of their use. The government will run programmes to rehabilitate Haruwa-charuwas.</p><p>Similarly, the government will establish a Challenge Fund of Rs 1 billion to promote entrepreneurship among youth from the private sectors. Sufficient electricity for industries will be generated within two years.The government will also hold an Investors Summit within two years.</p><p>Women entrepreneurs will be promoted by providing loans without collateral. Rs 7.05 million has been allocated for development of industries.<br>Likewise, International trade will be expanded with trade agreements with various nations and a trade information portal will be established. Feasibility studies will be carried out to establish dry ports in Dodhara and Chandani as well. To build three petroleum reserves, the government will acquire lands in Kavrepalanchok, Tanahun and Nuwakot districts.</p><p>According to the budget, Primary education will be made compulsory and free while secondary education will be gradually made compulsory and free. Rs 26.5 billion has been allocated for the School Sector Development Programme. Special programmes will be introduced to bring dropout children back.</p><p>The government will adopt a strategy to prepare human resources needed for the national development within the nation. Religious educational institutions will be promoted into mainstream. More teachers will be appointed for Science, English and Mathematics subjects at community schools. The community schools will gradually adopt English medium education. Meanwhile, Masters level students will be mobilised for volunteerism for six months in their final year of the study.</p><p>To promote sports Cricket stadiums will be established in Mulpani of Kathmandu, Bhairahawa of Rupandehi and Dhangadhi of Kailali within three years. Rs 200 million has been allocated for the seventh National Sports Programme. Similarly, High-altitude sports academies will be established in Mustang and Solukhumbu districts.</p><p>In the Health sector, a modern medical lab will be established in Bhaktapur. The Golden Thousand Days programme will be made more effective for maternal and infant health.Women’s maternity allowance will be increased upto Rs 1,500. Dialysis for kidney patients would be made free. Similalry, ‘One Village: One Doctor’ programme would be introduced.</p><p>Everyone will have access to drinking water within three years. Rs 5.98 billion would be allocated for the Melamchi Drinking Water Project. ‘Clean River: Civilised City’ programme would be given continuity. Tarai Madhes Drinking Water Reform Progamme will also be introduced. Private organisations providing drinking water in Kathmandu Valley will be brought under the legal scrutiny.</p><p>For aviation and tourism sector, Rs 5 billion and Rs 1.5 billion will be allocated to constitute international airports in Pokhara and Nijgadh respectively. A National Cultural Museum will be established in Kirtipur of Kathmandu. Two wide body aircraft will also be purchased within next two years. Madan-Aashrit Memorical Parks would be established in Dasdhunga and Gunjanagar of Chitwan districts. Organisations established in the name of deceased leaders will be provided a grant of 500 million.</p><p>The year 2073 Bikram Samvat will be celebrated as the Domestic Tourism Year while preparations will be made to celebrate the Nepal Tourism Year in 2018. </p><p>Journalists will be given 50 per cent discount in treatment at government health facilities. Optical fibres will be established in 72 districts.<br>Grands to VDCs will be doubled and Rs 15.55 billion will be allocated for it. Total of 32.64 billion has been allocated for local development.<br>Similarly, Social security allowance for single women, elderly among others will be doubled as Rs 32.70 billion has been allocated.</p><p>Likewise, the size of Constituency Development Programme has also increased. But, development projects under such Programme would be carried out by District Development Committees. Rs 500 million has been allocated to connect all VDCs to the road networks. Temporary rehabilitation centres would be established to shelter victims of domestic violence.</p><p>Likewise, the President Women Upgrading Programme would be introduced.</p><p>For Civil service and miscellaneous, Online application system for passports and e-passports will be introduced. The citizenship issuance system will also be made computerised. Nepalis working abroad will be allowed to vote in local, provincial and national elections. People living under the poverty line will be provided with identity cards. Training for new staff joining the government service will be made mandatory. The pension system would be made contribution-based. Meanwhile, the salary of civil servants has been hiked by 25 per cent.</p><p>Protests and bandhs at development projects will be barred. If such obstructions were carried out, the organisers will duly be fined. The government also upped the ceiling of income tax.<br>This is the first budget after the new constitution was promulgated on September 20, 2015. It may be noted that a deadline of Jestha 15 has been set in the constitution for the presentation of the budget estimates. Earlier today, the Council of Ministers approved the budget to be presented before the parliament.<br><br>The private sector had welcomed the government's policy and programmes while the main opposition party criticised it by terming it as a 'baseless document' that cannot be implemented. <br><br>The UML leaders have declared that the budget was crafted in a way that reflects the earlier budget the UML-led nine-month old government introduced in 2051 BS which had become one of the most popular budgets in country's history. <br><br>Meanwhile, the lawmakers' representing the Madhesi Front affiliated with the agitating Federal Alliance were not present at the parliamentary session during the presentation of the budget.<br></p>
