Finance Minister Dr Yuba Raj Khatiwada
Kathmandu, May 29 – The federal government has unveiled the budget of Rs 1.315 trillion for the fiscal year 2018/19 at the federal parliament today.
Unveiling the budget Finance Minister Dr Yuba Raj Khatiwada informed that of the total budget, Rs 845 billion would be spent under the current expenditure, while Rs 313 billion under the capital expenditure.
In order to manage the annual expense, the revenue sources would account for 831 billion, while the foreign aid to account Rs 58.81 billion.
Budget sets economic growth rate of 8%
The government has targeted to achieve eight percent of economic growth rate in the upcoming fiscal year.
Announcing the budget for the new fiscal year 2075/076 BS in the joint meeting of the Federal Parliaments today, Finance Minister Dr Khatiwada set the ambitious target of eight percent of economic growth rate.
Likewise, this year’s economic growth rate is amended to 5.9 per cent against the target of 7.2 per cent made while announcing the budget last year. The nation had achieved economic growth rate of 6.9 per cent in the fiscal year 2073/074 BS.
Similarly, the government has targeted to tap the inflation in five percent.
Budget to adopt zero tolerance on corruption
The government is to adopt zero tolerance policy on corruption.
It is stated in the government-unveiled budget for the coming fiscal year that the coordination and monitoring of the international and national Non-Government Organizations (NGOs) activities would be made effective.
The budget has specified that the report containing NGO-mobilized financial cooperation, programme implemented and outcomes achieved should be mandatorily submitted to the authority concerned and subsequently disclosed.
In order to end the corruption promoting activities, the Finance Minister has pledged to bring into book those involved in corruption and enable environment for irregularities.
The best practices taking place in the field of information technology would be replicated in public service delivery in coming days, the Finance Minister said, adding that the standard indicators would be prepared in the delivery of all types of services.
Finance Minister Dr Yubaraj Khatiwada said that the fiscal discipline would be strictly maintained and international cooperation would be increased to check money laundering and organized crimes.
“The Public Enterprises Operation and Management Act would be introduced to enable public enterprises”, he added.
