Finance Minister Yubaraj Khatiwada has launched the
first ever federal budget of Rs 1.315 trillion for the fiscal year 2018/19,
Out of the total budget, government aims to utilise
Rs845.5 billion as recurrent expenditure. Likewise, Rs314.28 billion and
Rs155.18 billion have been earmarked for capital expenditure and financing
Moreover, the government has set a revenue
collection target of Rs831 billion. Likewise, the government will seek foreign
grants and loans of Rs58 billion and Rs 253billion, respectively. Internal loan
amounting Rs172 billion is expected to balance the expenditures and sources of
Economic growth in the upcoming fiscal has been
projected at 8 per cent.
Government has prioritised generation of employment
opportunities, promoting agriculture and tourism sectors, conserving water resources,
enhancing quality of public service delivery in the first federal budget.
Rs 3.10 billion has been allocated to initiate Prime
Minister Employment Programme with an aim to generate employment opportunities.
Moreover, the government has decided to provide 5 per cent concessional loan of
Rs 700,000 backed by educational certificates to help young entrepreneurs to
launch their ventures.
With financial coordination with all local levels,
the government has decided to establish at least one health centre in all of
the 1200 wards within two years. In the first phase the government will grant
Rs4 billion to the locals levels for establishing health centres. Likewise, the
government has decided to depute at least one doctor in all of the health
centres in the country. The government has allocated Rs 56.41 billion for the
development of medical sector. Every community school to get high speed
Health: Rs56.41 billion
Education, Science and Technology: Rs134 billion
Agriculture: Rs33.71 billion
Tourism: Rs 5.20 billion
Energy: Rs83.89 billion
- Education: The current state of Universities will be
upgraded. Curriculum of schools will be improved, instilling a feeling of
nationalism and responsibilities in the students.
- Government to establish one stadium in each of the
- Provision of air ambulances for emergency rescue
service for pregnant women of rural areas.
- Awareness on social ills such as witchery,
chhau-padi among others to eventually eradicate such malpractices.
- Women, Children and Senior Citizens: Initiatives
would be taken to end violence against women. Priority would be given to
children with disabilities. Retreats would be developed for elderly citizens.
- Health insurance of Rs 100,000 for senior citizens
above 70 years of age.
- Government waives off loans taken by farmers from
Sana Kishan Cooperative.
- Agriculture Learning Centres to be established at
all local levels.
- Natural zoo and trails to be established in possible
- Cultivable lands shall not be used for constructing
houses or other structures.
- Government allocates budget to carry out feasibility
study of iron mines and to carry out the mining.
- Budget provision has been made to conserve water
sources in the mountainous regions.
- Rs 16.58 billion allocated to forest and environment
- Noise pollution, environmental pollution, rampant
dust in Kathmandu to be brought under control.
- Government announces five per cent export incentive.
- Visit Nepal 2020 to be held to promote tourism.
- Government to upgrade petroleum storage capacity, to
hold fuel for three months.
- Provision will be made towards the security of
mountaineers and trekkers.
- Aviation infrastructures to be expedited.
Master-plan to upgrade domestic airport, Rs 19.35 billion allocated to aviation
- Internal tourism to be promoted with the slogan
‘Pahile Desh Ani Bidesh’ (country before foreign country).
- Helipad would be constructed at all local levels.
- Government has provisioned budget for the
conservation of drinking water sources to manage drinking water in urban areas.
- Allocation of Rs 24.5 billion to develop and
conserve drinking water and manage water sources.
- National Cleaning Campaign to be initiated in the
- Toilet to be constructed in every house. Country to
be made open defecation free zone.
- Smart toilets with modern facilities to be built in
- 3,000 megawatts of electricity to be generated
through public investment.
- North-South transmission lines to be constructed
within five years.
- Rs 83.89 billion allocated to develop energy sector.
- Budget has been allocated for the construction of
Federal Parliament building.
- Government launches Janata Aawas Programme, to
provide Rs 50,000 as incentive to marginalised communities to buy zinc sheets
for their houses.
- Provision to make various rivers of Kathmandu Valley
- Rs 4.50 billion allocated to construct Madan
- Naubise Naghdhunga tunnel project to be initiated in
the upcoming fiscal.
- Rs 109 billion allocated to develop transportation
- Cable car feasibility study to be conducted to
upgrade transportation services in Kathmandu.
- Government to implement Tarai-Madhes Prosperity
Programme; Rs 2.6 billion allocated.
- Every Nepali citizen to have bank account within a
- Companies worth Rs 1 billion must be listed in stock
- Government to ease the process of business
registration and scrapping.
- Government to monitor Non-Governmental Organizations.
- Rs 40 million to be allocated to all electoral
- ‘Human Rights in every household’ to be launched
- Inflation benefits to civil servants increased to Rs
2,000, insurance of Rs 200,000, government to bear 50 per cent of premium
- Income tax slab increased to 10, 20 and 30 per cent.
- Tax will be collected from public for the use of
- Government hikes tax on import of bikes exceeding
150 cc, and other vehicles above 1500 cc.
- Strict action would be taken against those not
complying with the revenue related regulations.
Prime Minister, members of the Council of Ministers,
members of both the houses of the parliament and foreign dignitaries were
attending the presentation.
Source: The Himalayan Times