Govt unveils Rs 1.278 trillion budget for FY 2017/18
May 29, 2017 04:59 PM NPT
KATHMANDU, May 29: The government has presented Rs 1278.99 billion budget for the Fiscal Year 2017/18 in parliament on Monday.
Presenting the fiscal budget, Finance Minister Krishna Bahadur Mahara said the budget has allocated Rs 100 million to 390 million for rural municipalities, 150 million to 430 million for municipalities.
Similarly, Rs 400 million to 630 million has been allocated for sub metropolitan cities and Rs 560 million to 1240 million for metropolitan cities for the fiscal year 2017/18.
Minister Mahara said, Raxaul-Amlekhgunj pipeline project will be given priority for the smooth supply of the petroleum projects.
An underground tunnel connecting Koteshwar to Suryabinayak will be constructed to ease the traffic congestion.
Highways in the mountain will be surveyed and constructed.
Budget will be allocated for the Lumbini-Pokhara-Kerung railway.
Necessary budget will be allocated to encourage power-run transportation.
A mega city will be developed in each province and seven municipalities will be developed into satellite cities, said Minister Mahara presenting the budget.
Similarly, the budget has also given priority to the preservation of various cultures and languages of the communities, leadership development, skills development and service sectors.
The budget has also placed Tele communication, postal serve, internet, telephone, senior citizen allowances in priority.
Likewise, 36 billion has been allocated for social security allowance in the budget.
Rs 30.47 billion has been allocated for the urban infrastructure development.
A high level salary advisory panel will be formed to recommend and review salary of the civil servants.
The existing revenue system will be reformed to make the revenue collection system more effective.
The budget envisages 6 percent inflation rate, plans 100,000 jobs and other 400,000 new jobs.