Rajani Maharjan
BA 1st Year
21st Nov 2010, Sunday
Kumaripati, Lalitpur
After the series of political hiccups, the country finally got its annual budget of the fiscal year 2010/11 on 19th November 21, 2010, Friday. Even though the main opposition UCPN [Maoist] against the caretaker government bringing the full- fledged budget, Finance Minister Surendra Pandey presented it on Friday at the Legislature parliament.
The Ministry of Finance [M o F] sources said the budget has been reduced by Rs. 5-6 billion to rest at Rs 338 billion. So, has been the revenue target. From the earlier Rs 222 billion, the M o F has now projected revenue at around Rs 216 billion. Finance Minister Surendra Pandey said that budget has given continuity to the priorities of earlier budge.
BUDGET SKETCH
>> Total expenditure up by 30.4% to Rs 337.9 billion
>> Recurrent expenditure up by 25.8%
>> Capital expenditure swells by whopping 45%
>> External sources to finance 26% of the budget
>> With Rs 57.83 billion, education largest absorber of budget
>> Health budget increased to Rs 23.81 billion from Rs 15.84 billion
>> Police budget up by 9.16% to Rs19.42 billion
>> Defense budget up by 2.7% to Rs 18.29 billion
>> Four wheelers to be costlier by around 20%
>> Two wheelers’ price goes sup by around 16%
>> Liquor and cigarette to be costlier
>> No change in income tax stricter
>> Reintroduction of cash subsidy to exporters
>> 5-man police post for larger factories
>> Low-interest loan for promoting livestock
>> Fund to study underground railway in Kathmandu
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