Govt unveiling Rs 819 billion budget

Govt unveiling Rs 819 billion budget

The government is all set to present the budget of Rs 819 billion for the upcoming fiscal year 2015-16 later today. Finance Minister Ram Sharan Mahat is scheduled to present the budget at the Legislature-Parliament at 4 pm today with special focus on reconstruction and infrastructure development.

The government is planning to collect Rs 614 billion through government sources, Rs 110 billion through foreign grant and Rs 95 billion through loans.

The government sources include revenue collection, internal loans and surplus budget of the current fiscal year.

According to the Finance Ministry sources, the budget has been allocated by prioritising the reconstruction of infrastructures damaged by the earthquake and local body election.

The budget has raised the social security allowance for senior citizens by 50 percent.

The government has increased the Constituency Development Programme (CDP) to Rs 15 million from the previous Rs 10 million.

Following intense pressure from lawmakers, the government the government planned to increase the budget for CDP. Budget for parliamentarian development fund has been increased to Rs2 million from current Rs1.5 million based on per lawmaker.

Source: eKantipur