Connect with us

Economy

Budget 2018/19 : Rs 83.89 billion allotted for energy sectors, Rs 56.41 billion for health sectors

Gorkha Post

Published

on

KATHMANDU — Finance Minister Yubaraj Khatiwada has presented the first full-fledged budget of around Rs 1.31 trillion, which is Rs 37 billion more than the current fiscal year’s Rs 1.27 trillion, at the joint session of Federal Parliament and National Assembly on Tuesday.

Presenting the budget at the Federal Parliament today, Finance Minister Khatiwada said that the 56.41 billion has been allocated for the health sector while Rs 83.89 billion has been allotted for energy sector and Rs 24.05 billion for drinking water.

Likewise, the government has allocated Rs 1.34 billion for education, science and technology. The government has also allocated Rs 5.203 billion for tourism sectors whereas Rs 19.35 billion for aviation sector and Rs 16.58 billion has been allocated for the preservation of forest and environment.

ALSO READ :  Rights and responsibilities come together : PM Oli

Likewise, Rs 2.04 billion has been allocated for youth and sports while Rs 1.88 billion has been allocated for women, children and senior citizens.

Finance Minister Yubaraj Khatiwada said that the dearness allowance for the government staffers has been increased by Rs 2,000, however, there is no increment on salary for this time.

Minister Khatiwada said that a high level commission will formed to study and recommend the salary of the government staffers.

The government has increased the tax for the motorbikes having 150 CC and those four-wheeler with 1,000 CC and above.

Continue Reading

Economy

Nepal, Bangladesh sign MoU on energy cooperation

Gorkha Post

Published

on

KATHMANDU — Nepal and Bangladesh have signed a memorandum of understanding for power sector cooperation for intensifying the bilateral engagements for power sector development.

Minister of Energy, Water Resources and Irrigation Barsha Man Pun and his Bangladeshi counterpart Minister of Power, Energy and Mineral Resources Nasrul Hamid have signed the agreement amid a function here in Kathmandu on Friday.

Nepal has identified Bangladesh as a prospective market for hydroelectricity, which is a clean and renewable source of energy.

Nepal then had started talking with Bangladesh on bilateral energy cooperation since the power trade agreement (PTA) was signed with India in 2014.

ALSO READ :  Trump says summit is 'very, very good'

Nepal and Bangladesh, after the ‘SAARC Framework Agreement for Energy Cooperation (Electricity)’ among the SAARC member states in November 2014, have seen the prospects of bilateral power cooperation.

But, to execute power trade and power cooperation between the two nations, Nepal and Bangladesh need to hold talks with India as there is power trade between Nepal and India, and also Bangladesh and India.

Bangladesh will require around 34,000 megawatts of power by 2030 to sustain the high economic growth of above seven per cent.

Continue Reading

TOP PICKS