http://www.kantipuronline.com/kolnews.php?&nid=45703 Govt to unveil Rs.126 billion plus budget
KOL Report
KATHMANDU, July 15 - The government is announcing an annual budget of over Rs.126 billion for the year 2062/63 B.S. on Saturday.
This year's budget will see 22 percent increase in security expenditure and 12 percent increase in the Royal palace budget as compared to the last, reported Kantipur daily on Friday.
Security expenditure is allocated at Rs.19 billion, out of which the Defense Ministry will receive Rs.10.5 billion?an increase of 31 percent than the last year?s allocation. The rest will go to the Home Ministry, according to reports.
The budget for Royal palace expenditure is to remain at Rs.370 million. Last year it was Rs.330 million.
A total of Rs.600 million will be allotted for holding municipal elections.
On the development side, over Rs.700 billion will allotted in the conflict affected areas, the daily said. The amount will be spent in relief programs including reconstruction and rehabilitation in 40 districts that are worst affected by the insurgency.
The budget for the development of Karnali zone will be doubled to Rs.1.3 billion in the upcoming budget. The most underdeveloped zone of the country had received a budget of Rs.650 million last year.
In order to meet the expenses, the government has targeted to collect Rs.81 billion as revenue. Likewise, the budget will target mobilization of Rs.11.5 billion in internal loans and meet the remaining deficit of Rs.33 billion through foreign loans.
Among others, civil servants have a reason to smile as 20 percent special allowance offered in the last year?s budget will now be adjusted to their regular salary. (dds)
