Nepal Govt to announce budget of Rs 240 billion

Kathmandu, Sept 19 : The Nepal government is expected to announce a budget of about Rs 240 billion for the fiscal year 2008-09 here today.

Finance Minister Dr Baburam Bhattarai will present budget at Constituent Assembly at 4 p.m. today.

During a discussion with the representatives of 25 political parties represented in the Constituent Assembly here on Thursday, Bhattarai has said that the government has targeted at developing the sectors of agriculture, water resources, tourism, private investment, peace process, health, education and manpower production.

"The government has put emphasis on double digit growth within the next three years," he added.

He said the budget would target to downsize the exports to reduce Nepal's dependence on foreign goods. It will outline the relief and rehabilitation package for people affected by the decade long insurgency and control corruption in revenue collection.

Leaders of the Nepali Congress and other parties criticised the government for having started discussion belatedly.

They said that a budget pertaining to the present context including the suggestions of other parties could have been prepared if the discussion was carried out 15 days ago.

The government is just carrying out a mere formality, the parties charged.

Earlier, Finance Minister Bhattarai briefed President Dr Ram Baran Yadav about the estimated income and expenditure for the fiscal year 2008-09.

ANI