The Ministry of Finance released Nepal's budget on Sunday for the fiscal year 2013/14. Finance Minister Shankar Prasad Koirala presented a budget of Rs 517.24 billion emphasisng on accelerating development. Last year's budget came in three fractions. This year's budget has prioritised energy, infrastructure, agriculture, tourism, and export sectorson to achieve 5.5 per cent growth rate.
This year budget has been set aside to take forward ongoing infrastructure projects with special priority to expand transmission lines. Promotion of alternative energy like solar was also emphasised in the budget speech with rupees 1.1 billion set aside for solar power to benefit households with low income.
Budget highlight
Rs 30 billion for energy projects
Rs 16 billion for the Constituent Assembly elections on 19 November
Rs 300 million for 13th SAF Games
18 per cent rise in government staff salary
25 per cent increase in public welfare announcements