Govt unveils Rs 1.31 trillion budget for FY 2018/19The government has unveiled the budget of Rs 1.31 trillion for fiscal year 2018-19 at the Federal-Parliament.
The government has unveiled the budget of Rs 1.31 trillion for fiscal year 2018-19 at the Federal-Parliament.
According to Finance Minister Yubaraj Khatiwada, the government aims to collect Rs 800 billion from revenues in the upcoming fiscal year while Rs 202 billion from foreign aid.
Minister Khatiwada unveiled the budget for fiscal year 2018/19 by increasing Rs 37 billion than the current fiscal year’s Rs 1.27 trillion.
There is a provision to unveil budget for the next fiscal year on May 29 each year.
The government has targeted to achieve eight percent of economic growth rate in the upcoming fiscal year.
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.
The government has set a target to develop tourism-friendly infrastructures with an objective of attracting two million tourists within 2020.
The budget for the fiscal year 2018/19 presented by Finance Minister Dr Yubraj Khatiwada at today\'s meeting of Federal Parliament mentioned to promote domestic tourism, adding that the government would forward development of necessary infrastructures and programmes to attract tourists adopting the policy, \'Visit country first, then abroad\'.
The budget has also made necessary arrangement to run tourism business round the year, attracting the tourists from neighbouring countries India and China.
Nepal Academy of Tourists and Hotel Management would be developed as Tourism University and necessary process in this regard forwarded for the same.
The budget also set a target to make mountaineering safer and systematic and the government has allocated Rs 5.20 billion for the development and promotion of tourism sector.
Similarly, the government has allocated Rs 19.35 billion for the development of aviation sector. Initiating construction of Nijgadh Airport, starting the service after concluding the construction works of under construction Gautam Buddha Airport and Pokhara Regional Airport are other priorities.
Likewise, the budget has aimed at upgrading Tribhuvan International Airport and domestic airports.