Rs 250 billion budget for new fiscal year in Nepal

Kathmandu, July 3 : Senior Maoist leader Dr Baburam Bhattarai has projected an over Rs 250 billion budget for new fiscal year in Nepal.

Speaking during an interaction programme here Dr. Bhattarai said if the budget could not be presented as per the plans and policies of his party, the Maoists would remain out of government.

"Unless the current micro economic system of the country is restructured, development process in the country will not begin," he added.

Stressing on downsizing the errors in the past spending, Dr Bhattarai claimed 60 percent of the projected budget will be managed through taxes and revenues.

He also claimed the new government, if it formed under this party's leadership, will work to raise the Gross Domestic Product (GDP) growth rate by the end of next year to double digits.

"The new government will bring drastic change in the spending of regular and development expenditure. Current regular expenditure stands at 70 percent while development expenditure remains at 30 per cent, Nepalnews quoted him as saying.

ANI