KATHMANDU: Nepal’s finance minister on Sunday announced a full budget of Rs 517.24 billion for the fiscal year 2013/014. Finance Minister Shankar Prasad Koirala presented the budget in the National Planning Commission at Singha Durbar. 

Of the total budget, Rs. 385 billion has been allocated for current expenditures and Rs. 85.1 billion for capital expenditure.

Reading out the budget, Finance Minister Koirala said the government has allocated Rs. 241 billion 580 million for development-construction works and Rs. 275 billion 660 million for general expenditures.

The government targets to meet the budget expenses through the collection of Rs. 354 billion and 500 million through revenue sources, Rs. 5.5 billion from return of principle returns and Rs. 69.54 billion from foreign donation. Likewise, the deficit would be met through foreign loan worth Rs. 43.7 billion and domestic loan worth Rs. 44 billion.

As per the budget statement, Rs. 16 billion has been allocated for the CA polls scheduled to be held on November 19.

The government has also increased the salaries of the government employees and security personnel by 18 per cent. In addition, they will receive a monthly allowance of Rs 1,000.

The budget for F/Y 2013/14 also estimates an economic growth rate of 5.5 per cent while limiting the inflation rate to 8 per cent.

Also present on the occasion were Heads of the constitutional bodies, chiefs of the security agencies, leaders of the major four political forces, government secretaries and other officials, and the businessmen and industrialists, as well as media persons to cover the event.

Likewise, the government has allocated Rs 16 billion for holding the upcoming Constituent Assembly (CA) election.

The Government has increased the salary scale of all civil servants including army and police personnel and teachers by 18 per cent with effect from new fiscal year 2013/14.

According to the budget estimates for 2013/14 presented by Finance Minister Shanker Koirala today, along with the 18 per cent rise in basic salary the civil servants will also get an allowance of Rs. 1,000 per month.

The budget has allocated Rs. 16 billion for the CA polls, and Rs 30 billion for the energy related projects in the full budget. Finance Minister said that the budget has given continuity to development projects introduced by the earlier government.
Similarly the budget has recognized Pashupati Area Development Trust, Lumbini Development Trust, President’s Chure Bhawar Conservation Project, and Bheri-Babai Mulitipurpose Diversion Project as projects of national pride.
Along with the budget has been diversified under various headings. Of them hydro-electricity and energy; agriculture; infrastructure development; education health and drinking water, tourism promotion; promotion of investment in private sector; export and import; improvement in public service and good governance has been set priorities of the government.
Chairman of the Interim Election Council Khil Raj Regmi, his Cabinet colleagues, heads of the constitutional bodies, chiefs of the security agencies, leaders of the major four political forces, NPC vice chairman, government secretaries and other officials, and the representatives of the business community are also present on the occasion.

Earlier, the Cabinet meeting held at the Office of the Prime Minister and Council of Ministers had endorsed three budget-related ordinances this afternoon.

The budget was brought in after President Dr. Ram Baran Yadav certified the ordinances as per the Article 88 (1) of Interim Constitution.

KATHMANDU: The government has passed the budget ordinance and send to President Ram Baran Yadav for approval this afternoon.

Finance Minister Shankar Prasad Koirala will read out the budget after the ordinance submitted by the government was approved from the President. The President will approve the ordinance as per Article 88 (1) of the Interim Constitution of Nepal-2063 B.S.

The finance minister would read out the budget at 7:00 from the Dr Harka Gurung Hall, National Planning Commission.

KATHMANDU: Nepal’s interim election government is unveiling a full budget of the fiscal year 2070/071 BS without putting new programs.

The size of the budget is expected to remain Rs 510 billion.

Finance Minister Shankar Prasad Koirala would read out the budget at 5:30 pm in the Harka Gurung Hall of the National Planning Commission.

The budget would mainly focus on election, it is said.

Likewise, the government is expected to give priority to the projects of national prides.

This year, the government employees’ salary is expected to rise based on inflation as the government employees’ salary has not increased for the last three years.

KATHMANDU: The government has accepted that the low economic growth rate and high rate of inflation and increasing trade deficit were the main challenges of the country’s economy.

At a program organized at the Ministry of Finance while making public the economic survey of the current fiscal year today, Minister for Finance, Shankar Prasad Koirala said the total trade deficit had reached Rs. 438 .67 billion.

As against the set target of 5.5 percent growth in current fiscal year, it will be only 3.6 percent, he said, adding it is projected 1.3 in agro sector and 5 percent in non agro sector.

The targeted growth could not be maintained for the deterioration of growth in agro sector, he said. The minister, however, said the industrial environment was improvement-oriented.

He said import was boosted from the increase in spendable income of the people and import increased by 21.2 percent, but export only increased by 4 percent.

Koirala also said the current three year plan just brought poverty to 23.8 percent as against the target of 21 from 25.2 percent, and added it is urgent to decrease the poverty.

The inflation has reached 8 percent as against the target to limit it to 7.5 percent, he said.

KATHMANDU: Former Vice-chairman of the National Planning Commission Dr Deependra Bahadur Kshetri has said that the targeted economic growth rate would not be achieved until focus was paid in agriculture in the new budget.

“The youths leaving for foreign jobs should be retained by giving continuity to youth self-employment program,” he said.

Speaking at an interaction in the Reporters Club today, Kshetri who is also the former Governor of the Nepal Rastra Bank said good programs of the previous government should be continued without any prejudices otherwise estimated economic growth rate will not be achieved.

The program was presided over by Club’s Chairman Rishi Dhamala.

Likewise, economist Dr Bishambhar Pyakurel has said that the new budget would add to pain to the people instead of giving relief.

He said the new budget would bring nothing new programs for reform as the government itself was not independent to bring a full budget. “This will be a ritualistic budget, ” he said. 

He also claimed that Nepal’s economy was mobilized by some unseen power and suggested that the government should not stop bringing new budget just by the President told the finance minister to bring a partial budget.

He said government should bring programs to expedite capital expenditure and control excessive price hike.

Likewise, Senior Vice-President of Federation of Nepalis Chambers of Commerce and Industry Bhaskar Raj Rarkarnikar said a full budget with government policy and programs should be brought and warned to take to the street if such budget was not unveiled.

He also said that continuity of the old budget will not be acceptable to the private sector.

Similarly, economist Dr Madan Dahal said the government should work actively against black marketeering and to lure the private sector.

He said a chemical fertilizer company should be established in the PPP model as agriculture should be prioritized to develop the nation.

KATHMANDU: Finance Minister Shankar Prasad Koirala has said that the full budget was unveiled by giving due priority to the projects of national importance.

Speaking at an interaction program at the Reporters Club on Thursday, Minister Koirala said Rs 6 billion was allocated for the upcoming CA elections.

Club’s Chairman Rishi Dhamala presided over the interaction program.

Likewise, over Rs 15 billion was allocated for the energy sector considering the impact of the power outage on the industries of the country. For the time being power would be purchased from neighbouring India and will be provided in existing price with subsidy from the government if it costs higher than usual, he added.

Stating that the government has adopted a policy of increasing investment on industries that displace imports, the Finance Minister also disclosed that a revenue advisory committee has been formed to carry out necessary home work for the new fiscal year budget.

President of Nepal Chamber of Commerce Suresh Kumar Basnet and Officiating President of Federation of Nepalese Chambers of Commerce and Industries Bhaskar Raj Rajkarnikar said despite being an election government the budget it has tabled is likely to show goods signs for economic progress of the country.

Likewise, FNCCI Vice-president Pradip Raj Pandey and industrialist Diwakar Golcha said the appropriation of Rs. 300 million for promoting export-based industries was a good beginning for minimizing the trade deficit.

KATHMANDU: A day after Nepal’s President Dr Ram Baran Yadav endorsed the budget ordinance, ruling and political parties started debating the move.

Till Tuesday, the ruling allies were slamming the President for not cooperating and the opposition parties were praising the President, but on Wednesday the scenario turned upside down.

During a press interaction program organized by the Reporters Club Nepal in Kathmandu on Wednesday, ruling party leaders termed the President’s move as a ‘decision taken by the guardian to secure the interest of all Nepalese”.

And contrary to it, leaders from opposition party camp termed it to be ‘unfortunate and unprecedented move” that has ‘shocked them”.

Speaking at the program, CPN UML leader Pradeep Gyanwali accused the President of taking an contradictory decision arguing that the decision taken in the evening was contrary to his urge for bringing the budget through consensus during daytime.

” President’s request and his action taken in evening yesterday do not match,” Gyanwali said adding, ” we don’t know why the President took such action, but it surely has surprised and saddened us.”

” We hope to find an answer to this from the President in the days ahead,” Gyanwali added claiming that the unilateral preparation of the budget and announcement of CA elections by the government had intensified political struggle between the ruling and opposition parties .

Endorsing Gyanwali’s statements, Nepali Congress leader Ram Sharan Mahat stated that the President should have consulted political parties before endorsing the budget ordinance. Mahat opined that not discussing the issue with parties, was a grave mistake on the President’s part.

He however appreciated the President’s cooperation in hindering the Maoist-led government to bring a full fledged budget. Mahat said that though the budget was necessary for keeping the national economy floating, he argued that it should have been brought in consultation with the opposition parties too.

Stating that the government had closed doors for consensus talks, Mahat said that there is no other alternative than to launch stern agitation to form a national consensus government.

He opined that the President too should support the opposition parties to resolve ongoing status quo by fixing a definite deadline to form national consensus government.

However, UCPN Maoist leader Agni Sapkota praised the President’s step by terming it as an rational decision for the welfare of 3 billion Nepalese people. He said that the President had averted an untoward situation by endorsing the budget at a critical juncture.

Stating that the budget was brought under compulsion by the government, Sapkota said that the President’s cooperation had foiled the opposition parties’ conspiracy to capture state power by using budget as a bargaining chip.

On the occasion, Sapkota ruled out the dissolution of incumbent government unless political parties resolved all outstanding issues in a package.

NEPALGUNJ: Nepali Congress influential leader K P Sitaula has claimed that that ruling parties have obliterated consensus talks between ruling and opposition parties to resolve political status quo.

Speaking to journalists here, Sitaula claimed that presentation of the budget ordinance and announcement of CA elections for April May by the ruling parties without consulting opposition parties,  reflected the government’s totalitarian tendency.

” The government which had failed to hold CA elections on its own date has announced another date without holding consultations with opposition parties. This is nothing more than ruling parties trick to prolong stay in power,” Sitaula summarized.

Sitaula further claimed that his party will strengthen ties with other opposition parties and launch agitation against the government in the days ahead and announced the end of consensus talks with the government on the occasion.

He claimed that CA elections were not possible in April/ May without garnering consensus by November end and added that the possibility of consensus had ended with the announcement of new CA elections date by the government on Tuesday.

On the occasion, he urged party cadres to gear up for a stern agitation against the government. (nepalireporter.com)

They have accused the government of closing all the doors to talks and dialogues taking of late  to  forge a political agreement on national consensus government, budget issues and new election and intended at imposing autocratic rule in the country.   The announcement of new elections and bringing the budget through ordinance has obstructed the way for a consensus, they said.

Speaking at a programme organized by the CPN (UML) on behalf of the opposition parties here Tuesday, they said intention of the ruling coalition partners of imposing totalitarianism in the country would never be fulfilled.

Nepali Congress President Sushil Koirala said unilateral decision of the incumbent government regarding the budget and new elections to the Constituent Assembly were in the violation of rule of law and the politics of consensus. He claimed that the budget prepared neglecting all the moral responsibilities would close all ways to a consensus.

There was no alternative for political parties to negotiations, consensus and unity, he said while adding that the performance of the incumbent government has fueled the political crisis currently facing the country.

Similarly, CPN (UML) Chairman Jhalanath Khanal said the government’s decision to bring the budget through ordinance and announcement of new election showed its ‘madness’ and urged the government to come to a consensus on the agendas of national interest at the earliest.

The budget prepared ignoring the past talks and discussions and the announcement of new election would not be acceptable for the party, he said.

Chairman of Rastriya Prajatantra Party Pashupati Shamser JB Rana accused the ruling partners of not becoming serious towards forging consensus on the national agendas and intending to rule arbitrarily.

He added that the budget ordinance and new election announced by the government undermining the voices of the opposition parties would not be acceptable for his party.

Likewise, Chairman of Rastriya Janashakti Party Surya Bahadur Thapa accused the government of announcing new election violating democratic norms and values.

CPN (ML) general secretary CP Mainali  and NC leader Dr Minendra Rijal condemned the government for its decisions of bringing the budget and holding new election without consultations with other political parties. RSS