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Rs 517.24 Billion Budget For Fiscal Year 2013 (2070)
By KTM Metro Reporter
July 15, 2013: Finance Minister Shankar Prasad Koirala read out the budget for the fiscal year 2013 (2070) in the Harka Gurung hall of the National Planning Commission in Kathmandu yesterday after President Dr. Ram Baran Yadav issued the Economic Ordinance of 2013, Budget Appropriation Ordinance of 2013 and National Loan Ordinance of 2013.
The total budget is of Rs 517.24 billion. The finance minister allocated Rs. 353.42 billion to the regular administration, Rs. 85.10 billion to the capital expenditure and Rs. 78.72 billion to the financial management.
Resources mobilization for the budget is stated that Rs. 354.5 billion will be the revenue, Rs. 5.5 billion the principal and interest on the state investment, and Rs. 69.54 from foreign grants, and the deficit will be Rs. 87.7 billion. The foreign loan and the domestic borrowing will meet the deficit.
The target of the economic growth set in the budget is 5.5 percent for the FY 2013 against the achievement of 3.6 percent in the eight months of the FY 2012. The target is ambitious one in view of the government’s capability to achieve it.
The finance minister has said that the government has allocated Rs 16 billion for the elections to the Constituent Assembly elections to be held on November 19, 2013.
The finance minister has included Pashupati Area Development Project, Lumbini Area Development Project, Rastrapati Chure Conservation Project and Bheri-Babahi Diversion Project in the nationally important projects.
The government has increased the salaries of the civil, army and the police by 18 per cent salary, and another Rs 1,000 allowance added to the salaries of all state employees despite the political parties opposing it.
