Nepali Times
Nation
The Budget



In numbers:
Total: Rs 102.4 billion
Regular budget: Rs 60.5 billion
Development budget: Rs 42 billion (three- fourths earmarked for 'high priority' areas and one-third for mid-western and far- western districts)
Foreign loan and grant component: 70 percent
For security: Rs 13.5 billion (30 percent up from 2002, of which Police gets Rs 6.3 billion and Army gets Rs 7.2 billion.)
Reconstruction of Infrastructure destroyed in the insurgency: Rs 800 million.
Education: Rs 15 billion
Health: Rs 5.2 billion
Hydropower: Rs 6 billion (plus Rs 1 billion for rural electrification)

Other highlights:
. Parties get Rs 20 per vote garnered in previous polls two months before general elections
. Power Development Fund for rural producers
. Half of Nepal Telecommunication Corp shares to be sold to public
. Nepal Oil Corp monopoly ended, private oil importers allowed
. Nepal Employment Bank to channel remittances from overseas Nepalis, and help migrant workers
. Dairy Development Corp and nine other public sector firms to be privatised
. EPZs in Birganj, Panchkhal and Nuwakot
. No visas required for Chinese citizens, three day visa-free entry for other tourists
. 600 more schools to be handed over to local communities
. Income tax slab increased to Rs 100,000
. Private entities can make up to Rs 5 million tax-exempt contributions to political parties


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LATEST ISSUE
591
(10 FEB 2012 - 16 FEB 2012)

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