Thursday, 21st August 2014

Budget prioritises infrastructure, energy, production sector


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The government will prioritise infrastructure, energy and production sector in the budget for the next fiscal year 2014/15.

The government is ready to present the budget by mid-June and also gave first priority to rural roads which is a backbone of development.

Enough budget will be managed for the large under construction Hydel projects and to expedite transmission lines, the Budget Division of the Ministry of Finance said.

Division Chief Dr. Baikuntha Aryal said in agriculture, agro loans and irrigation, fertilizers and market management will be prioritized and that government was committed to creating industrial environment.

He said the budget will also properly address tourism, finance, education, and heath.

FNCCI Vice Chairman Dinesh Shrestha said budget should be brought to put remittances in investment and for creating employment with plans and added that if cost of production is reduced, export could be increased and government should take this in consideration.

NCC General Secretary Kamalesh Kumar Agrawal said government should prepare budget in view of poverty alleviation and high economic growth.

The government is to bring budget within the ceiling of 596 billion rupees fixed by NPC. It estimates 5.15 percent economic growth and it is thought that 8 percent economic growth is needed for taking the nation to developing status from least developed status by 2022.