Budget at a glance

Some major features:

¨ Civil servants salary hiked by Rs 2000 for all last year it was hiked by 27 per cent
¨ Block grant Rs 15 million to 25 million for VDC last year Rs 1mn for VDC
¨ Rs 1.5 billion for the family of the citizens who have lost their life and were disappeared during the conflict.
¨ Rs 50 million for the residential schools operated by martyrs academy in five development reasons.
¨ Rs 12 million for living together settlements to the family who have been internally been displaced due to armed conflict.
¨ Rs 20 million for herbal collection facilitation at Jumla Banke and Salyan.
¨ Rs 20 million for Ram Vrikhsa Yadav Memorial Center at Janakpur Hospital and Suresh Wagle Memorial cancer center at TU teaching hospital in their memory.
¨ New International Airport at Nijgarh, Bara gets continuation
¨ Construction of Lok Marg – people's road
¨ New International Airport at Nijgarh, Bara gets continuation


Bits and pieces:
*The budget is full of slogans: Some of the slogans are original but others are brought to overshadow the UML's earlier slogans.
Know your slogans:
"In clean water lies Nepal's power"
"New Nepal, Learned Nepal"
"Make our Village Better and Beautiful"
"Cooperatives in every village, food storage in every house"
''Know Letters, Be Civilized"
"Slogan of Drinking water: Taps in the Villages"

*The budget promises to revive sick industries: The idea is better with new approach as Dr Bhattarai is trying to experiment new idea with Hetauda Textile and Gorakhkali Rubber Udhyog.

*The Budget gives the people a chance to voluntarily decalre their property and pay tax. Otherwise, the finance minister says the government will come tough on them.

* Income and expenditure of the high profiled people will also be monitored.

* Additional 0.5 per cent fee on registration of the sales of land and buildings in Kathmandu Valley for the 'Bagmati Civilization Development Programme'.

*10 per cent rebate in income tax (from remunerations) to women and rebate increased in land registration fees.

What's up what's down
Dearer
* Vehicular price
* Cigarette
* Alcohol
* Land transfer chargs
* Five percent education service tax
*
Bounties
* CFL bulb (electric bulb) cheaper
* Soybean and sunflower oils
* Ten per cent tax rebate in income tax from remunerations to the women
* More rebate in land registration fees if the women get land transferred to their own name
* Tax exemption on annual interest income of Rs 10,000 in the amount deposited to the micro credit institutions, rural development banks, postal saving bank, and cooperatives in the rural area
* VAT exemption for hydel projects
* 1.5 per cent extra tax added in income tax has been abolished
* Customs duty for the imports of industrial raw materials reduced
* Customs tariff reduced on the importation of refined palm oil
and packing materials
* The customs tariff on the importation of tanker for dairy industries has been reduced by fifty per cent.
*

The aim of the budget
* Maximum mobilisation of internal resources for self reliant economy,
* Broadening tax bases instated of raising tax rate,
* Export promotion by attracting domestic and foreign investment,
* Protection to domestic industries and conservation of natural resources,
* Strengthening of tax administration by making it more efficient,
* Special priority for the infrastructural projects,
* Relief to the disadvantaged groups of the society affected by the inflation,
* Strict monitoring of market and control of the illegal trade,
* Controlled sale and distribution of health hazards goods,
* Rationalisation of revenue rates committed in bilateral and multilateral
agreements,
* Directing means and sources toward productive sectors.