Budget in line with Ninth Plan : Acharya

June 2, 2000
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Kathmandu, June 2: Minister for Finance Mahesh Acharya, at the meetings of the House of Representatives and National Assembly today, made it clear that the proposed budget for fiscal year 220/2001 has laid emphasis on reform in the economy and accorded high priority to the agricultural and social sectors in line with the goal of poverty alleviation, the main thrust of the Ninth Plan.

Finance Minister Acharya said that he was encouraged by the different comments on the proposed budget and responses from the public as well as from the opposition benches and called on all to forge ahead to attain the common goal of poverty alleviation.

Referring to the government policy of pushing income generating and skill development schemes forward, he said that facilities like education, health care, irrigation, electricity, transportation, family planning and cooperatives would be taken down to the people’s level.

The government has set a target of 7 per cent growth rate as against 6 per cent in the current fiscal year, and for this purpose, it has simplified and improved the existing tax structure in order to encourage industrial and commercial activity, he said.

He further said that arrangements have been made to sanction small irrigation projects though the agricultural development bank.

Minister Acharya also informed the Houses that the budgets for food security and allowances for the disabled, widows, elderly persons, and the helpless have been increased.

An arrangement has been made for border trade transactions through the banking system in order to regulate that trade, he said adding, though the proposed budget is ambitious to some extent it would be implemented successfully through mobilisation of all state mechanisms.

He further said that the proposed budget has accorded top priority to strengthening the value added tax system as the main instrument for revenue collection as well as to control illegal trade.

Earlier, Minister for Finance Acharya also corrected minor mistakes in the budget.