Nepal Budget: A Few Numbers and Maoist Disagreement

Maoist cadre listening to the budget speech

Keshav Pradhan aka COMRADE BISHWASH, a party worker of CPN (Maoist) listens to the live bradcast of the budget speech at Maoists Dialogue Secretariat at Baneshwar on Wednesday. Finance Minister Dr. Ram Sharan Mahat presented Rs. 143.91 billion for the annual budget for the fiscal year 2006/07 in the parliament in four years after the House was reinstated in April. In previous years, in the absence of a people’s representative body, various governments including the royal cabinet had announced the annual budget through ordinances. . Pic by Bikas Rauniar via Kantipur

Total Budget: Rs 143.91 billion. (Rs 83.76 billion for regular expenditure, Rs 44.97 billion for capital investment and Rs 15.168 for payment of principal amounts of loans.)

Budget aims to raise Rs 85.37 billion from internal revenue, Rs 23.72 billion from foreign grants and Rs 16.90 billion from foreign loans. The deficit budget for the year 2006/07 stands at Rs 22.451 billion.

The government has also increased the annual budget granted to VDCs from Rs. 500,000 to Rs. 1 million.

The Talk of CA

Rs. 1.25 billion to conduct the constituent assembly elections, scheduled to be held by mid-April next year.

Addressing the House, Minister Mahat said that the dialogue between government of Nepal and Nepal Communist Party (Maoist) has commenced to end all forms of conflict prevalent in the country. “The need of the hour is to make institutional arrangement for constitution, policy and structure through national consensus so that Nepali peoples’ rights are never compromised. Therefore, the present government, in accordance with the House of Representatives’ historic Declaration and the consensus reached with Nepal Communist Party (Maoist), is fully determined to expedite the process of formulating interim constitution, managing weapons and forming interim government through the election of Constituent Assembly in an atmosphere free of violence and fear.”

Continue reading Nepal Budget: A Few Numbers and Maoist Disagreement

Nepal Economy: We Are Eating Better, Drinking Less

By Prem Khanal

Budget Day

KATHMANDU- Nepalis are consuming more meat and fish, smoking less, and have become more sober – per capita alcohol intake has dropped. According to the Economic Survey for the fiscal year 2005/06 released on Monday (July 10) by the Ministry of Finance, the total meat consumption went up by 2.95 percent to 264.85 thousand tons, which means that the average Nepali consumed 10.24 kg of meat during the period. This is one-fourth the global consumption rate. Continue reading Nepal Economy: We Are Eating Better, Drinking Less