The government, in its annual budget estimates for the Fiscal Year 2016/2017, has allocated Rs 140.66 billion for the post-earthquake reconstruction efforts and rehabilitation operation.
Finance Minister Bishnu Prasad Poudel announced so while reading out the budget statement for the upcoming fiscal at the meeting of the Legislature-Parliament today.
Minister Poudel said that the government, underscoring the reconstruction operation, has allocated the amount after estimation on annual revenue and expenditure.
Stating that the need of the hour was to fight against poverty and backwardness which were against the social justice, Poudel asserted that the budget was aimed at attaining economic growth and prosperity.
The budget, first since the promulgation of new constitution on September 20, 2015, has been prepared after soliciting suggestions from the parliamentarians, according to Minister Poudel, who assured that that adequate budget has been allocated for implementation of federal structure as stipulated in the new constitution.
“The government has allocated the budget in view of holding elections at all level as per the spirit of the constitution and to forge political consensus in local bodies to hold election at the local bodies by mid-December, 2016,” according to Minister Poudel. RSS