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Finance Minister presents annual budget for FY 2016/17 at Parliament

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KATHMANDU — Finance Minister Bishnu Paudel is presenting the yearly annual budget for the fiscal year 2016/17 at the Legislature-Parliament on Saturday.

Beginning the budget at the Parliament, the Minister said he prepared the budget in consultation with political parties, former finance ministers and various stakeholders among others.

The principal objectives of the next fiscal’s budget are to implement the Constitution, to reduce poverty and to expedite development works, according to Minister Paudel.

He announced that the post-earth quake reconstruction, hydropower, forestry and good governance are among priorities of the next budget.

Minister Poudel said government had prioritized implementation of the constitution, acceleration of development works and reduce poverty through this budget.

The government will also provide martyrs status to those who lost their lives during the Madhes movement and also provide compensation to their families.

Some main points of budget :

– Prepare DPR for East-West, Rasuwa-Pokhara-Lumbini, Kathmandu-Birgunj and Kathmandu Metro rail.
– Rs 4.2 billion allocated for Postal Road, Rs 5.33 billion for Budhi Gandaki Hydel project.
– Bhairahawa-Lumbini road to be upgraded to four-lane.
– Bagmati Museum to be established in Kathmandu.
– Multi-purpose administration building to be constructed at Babarmahal.
– Prime Minister Agriculture Modernisation Project announced, Rs 5.78 billion allotted for it.
– Those deceased in Madhes movement to receive martyrs status and compensation.
– 2.88 billion for mid-Hill highway
– Postal highway 4.20 billion
– Infrastructure tax to be levied on petrol.
– Additional Rs 300k for quake victims.
– 10 billion for fast track
– Kathmandu-Nagdhunga tunnel Rs 1.86 billion
– Each headquarters to receive Rs 90 million each

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Oli, Dahal hold discussion on party unification and govt expansion

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KATHMANDU — Prime Minister and CPN-UML Chairman KP Sharma Oli held talks with CPN-MC Chairman Pushpa Kamal Dahal ‘Prachanda’ at the former’s residence in Balkot today.

During the meeting that lasted for around 1.5 hours, matters relating to the unification between the two parties and the CPN-MC’s participation in the government were discussed.

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In his comments following the meeting, Maoist Chair Prachanda said the talks in regards to the unification were held positively and efforts are on to announce the unification soon.

The Prime Minister’s press coordinator Chetan Adhikari said the two chairs met on the eve of the meeting of the party unification coordination committee scheduled for tomorrow.

The PUCC meeting tomorrow will discuss the issue of party unity and government participation at length, and two chairs discussed the same matter today.

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