Govt to bring ‘full budget sans new programmes’
KATHMANDU, JUL 05 -
Amid opposition parties’ strong protest, the government is gearing up for a full budget without new programmes. This is what Prime Minister Baburam Bhattarai told a meeting of the Economic Advisory Council on Wednesday.
The Prime Minister said the government would bring a full budget , but would not introduce new programmes.
Bhattarai’s remark came the same day the major opposition parties submitted a memorandum to President Ram Baran Yadav, requesting him not to endorse a full budget ordinance. “The meeting discussed that new programmes and projects would not be introduced in the upcoming budget ,’ said a participant of the meeting. “The new budget will focus on continuing and completing existing programmes.”
According to another participant, the new budget will prioritise completion of ‘national pride projects’ and those that have come under the Investment Board.
The government recently handed projects, including Fast-Track, upgradation of Tribhuvan International Airport, West Seti, Upper Karnali and Arun-III projects, over to the Investment Board.
The government has also planned increasing investment in the agriculture sector. Finance Ministry has planned to double subsidies on chemical fertilisers and provide agriculture subsidies to every district.
At Wednesday’s meeting, Umid Pun and Yamuna Ghale made a presentation on agriculture, Yogeshwor Parajuli on infrastructure and Karna Shakya on tourism. “It has been suggested to reduce corporate tax of banks and insurance sector,” said a participant. “The introduction of interest rate corridor through Nepal Rastra Bank has also been recommended.”
Posted on: 2012-07-05 08:32