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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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PM congratulates Nepali national cricket team

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KATHMANDU— Prime Minister KP Sharma Oli has congratulated Nepali national cricket team for being able to clinch the International T20 series.

PM Oli in a tweet extended best wishes and congratulations saying he was very happy to know Nepal’s win over the UAE by 14 runs in the third match of the series.

Winning T20 series is another landmark success for Nepali cricket, he said, adding, “It is big achievement for Nepal’s cricket. I would like to heartily congratulate entire members of Nepali cricket squad”.

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