Nepal Budget 2073/74 | Analysis from Tax Perspective
Compared to current Fiscal Year, the expenditure estimates for the upcoming Fiscal Year 2073-74 is 28 percent more while revised estimate is 49.6 percent more.
Among the sources to bear the expenses for the coming Fiscal Year, the revenue will bear Rs 565.89 billion, while repayment of debt principal Rs 10 billion, foreign grants Rs 110.89 billion. However, there will be deficit of Rs 366.12 billion. And deficit due to mobilization of revenue collection and foreign aid will be 195.71 billion.
In order to address the budget deficit, Rs 111 billion will be generated from the internal loan, and Rs 59.41 billion from the cash reserve.
Budget priority sector
- Reconstruction, rehabilitation and new construction
- Hydro-electricity production, distribution cable installment and distribution
- Road, Airport and Irrigation
- Agriculture, industry, tourism and forest
- City and local infrastructure
- Education, health, drinking water and sanitation
- Social security, corruption control, service mobilization and improvement in administration
Rs 140.66 billion is allocated for reconstruction. Interest free loan of Rs 300,000 for each households affected by the earthquake.
Electricity
Plans to end load shedding within 2 years; self reliant within 3 years and start export of electricity within 10 years.
Plans to add more electricity to the national grid — Chamelia and Kulekhani within 1 year; Upper Tamakoshi and Trishuli 3A within 2 years; and Rasuwagadi within 3 years.
Plans to produce 6,000 MW electricity from river flow and 4,000 MW from water reservoir within 10 years.
Public private share program to invest in hydro-projects with 51% government and 49% general public.
1,000 MW Budhigandaki project to start; Rs 5.33 allocated; More than 7 billion rupees to be collected from taxing Rs 5 per litre of petrol, diesel and aviation fuel which will go towards the project.
Road Construction
Rs 10 billion allocated for Budhune-Hetauda section construction part of the Kathmandu-Nijgad duel carriage Highway.
Rs 4.20 billion allocated for Postal Highway; 518 km dedicated double lane within 3 years; 1152 km second phase to start coming fiscal year.
Pushpalal Mid-hilly Highway: 5 year completion plan; Rs 2.88 billion allocated for express highway with tunnel; multi-year contract to be handed.
Rs 3.02 billion allocated for 318km Dharan-Chautara-Gaighat-Katari-Sindhuli bazaar-Hetauda road; to be completed within 3 years.
Terai Madhes East-West Highway: Rs 2 billion allocated for 4 lane modern road connecting southern borders via district head quarters.
Prithivi Highway: Rs 1.86 billion allocated for Nagdhunga Tunnel
Transportation
Introduction of high security embossed number plate and vehicle fitness test.
Smart card driving license and registration
Mandatory digital taxi meters
Urban development
Rs 9 billion allocated for city development (road, sewage system, drinking water, renewable energy, bus park, fun park, education, health). 500 million allocated for each cities which include Mahendranagar, Dhangadi, Gulariya, Nepalgunj, Taulihawa, Siddarthanagar, Parasi, Birgunj, Kalaiya, Gaur, Mahangawa, Jaleshwore, Janakpurdham, Siraha, Rajbiraj, Biratnagar, Inaruwa and Bhadrapur.
Rs 1.72 billion allocated for building homes for backward community (Dalit, Muslim, Chepang, Rautay, Gandharba, Badi, Bankariya, Surel and Thami). 20,000 homes to be built.
Bhaktapur to be developed as cultural city.
Rs 710 million allocated to develop 5 of the poorest VDCs in Bajura district.
Denial of basic services such as drinking water, electricity, sewage, telephone to those not following the building code.
Agriculture
Rs 5.78 billion allocated for Prime Minister’s agricultural modernization program.
Agriculture sector to be divided into pocket area, zone and super zone
Agricultural aid of up to 50%-85% of capital for various projects.
Rs 5.47 billion allocated for bio/chemical fertilizer industry aid
Rs 8.46 billion allocated for animal production and self reliance program
Forest
Rs 1.88 billion allocated for President’s Chure preservation program which spans 29 districts.
Rs 630 million allocated for national forest management.
Rs 380 million allocated for community forest management.
Increase in wildlife protection budget.
Irrigation and river management
Rs 2.30 billion allocated for Terai Madhes Irrigation (11 district Terai-Madhes irrigation program).
Rs 5.35 billion for ongoing irrigation projects at Sitta, Ranijamura, Kulariya, Babai, Bheri Babai diversion, Mahakali 3rd and Bagmati.
Rs 3.98 billion allocated for 12 river management.
Land reform
Specific land designated for specific use. Unused agricultural land to incur fine of up to 25% of possible crop production.
Tax
General tax remain the same. Individual tax exemption limit rises from Rs 250,000 to Rs 350,000. Tax exemption limit for couples also up from Rs 300,000 to Rs 400,000.
Tax rise in beer, spirit and cigarette.
Self audit allowed for businesses with revenue of up to Rs 10 million per year.
Customs duty on import of machinery and equipment needed for Agriculture, Irrigation and Livestock reduced to 1%. Import tax also reduced for electric public and private transport vehicle; vehicles used for transport of milk, meat and fish transport, Gas bullet.
Customs duty on import of certain medicines reduced.
Tourism
Year 2073 BS to be declared domestic tourism year; preparation to declare year 2018 AD as Nepal Visit Year.
Plan to bring Gautam Buddha Int’l Airport in operation by 2074 BS Magh month. Rs 7.22 billion budget allocated.
Rs 5 billion allocated for Pokhara Regional International Airport construction. Rs 1.5 billion allocated for proposed Nijgadh Int’l Airport.
Benefit scheme
Benefit for elderly, disabled etc doubled.
Journalists to get 50% discount at government hospitals.
Education
Rs 26.50 billion allocated for School development.
Loan facility with academic certificate as collateral.
Drinking water
Plan to start distributing drinking water from Melamchi by 2074 BS Asoj month. Budget of Rs 5.98 billion allocated.
Rs 8.03 billion allocated for other drinking water projects around the country.
Health
Rs 2.50 billion allocated to implement National Health Insurance. Rs 1 billion allocated to provide free treatment (8 different illnesses) of impoverished citizens.
Treatment of Heart, Kidney and Liver disease; and Cancer to be free for the impoverished at government hospitals. Dialysis facility free until Kidney transplant.
As per “One Village One Doctor” initiative, village students passing entrance exam to get MBBS scholarships with a condition that they must serve in the village for five years after completion of their education.
Sport
Rs 200 million allocated for the 7th National Sport.
Infrastructure,
Hydro Projects, Educational and Health sectors. Apart from other
changes through budget government has increased the old age allowances
by Rs. 1,000 making it Rs. 2,000 per Month and increased salary of
government employees by 25%. This Budget has aimed for the Growth Rate
of 6.5 percent limiting the Inflation Rate to 7.5 percent. - See more
at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Infrastructure,
Hydro Projects, Educational and Health sectors. Apart from other
changes through budget government has increased the old age allowances
by Rs. 1,000 making it Rs. 2,000 per Month and increased salary of
government employees by 25%. This Budget has aimed for the Growth Rate
of 6.5 percent limiting the Inflation Rate to 7.5 percent. - See more
at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Infrastructure,
Hydro Projects, Educational and Health sectors. Apart from other
changes through budget government has increased the old age allowances
by Rs. 1,000 making it Rs. 2,000 per Month and increased salary of
government employees by 25%. This Budget has aimed for the Growth Rate
of 6.5 percent limiting the Inflation Rate to 7.5 percent. - See more
at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpufjhfvvf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
Finance
Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y.
2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this
budget as it was the first budget after the promulgation of
Constitution of Nepal 2072. Finance Minister released the Budget of
1.051 Trillion Rupees. As promised this budget has lived up to
expectation of Nepalese people. Budget has included various aspects for
development of Agriculture, Infrastructure, Hydro Projects, Educational
and Health sectors. Apart from other changes through budget government
has increased the old age allowances by Rs. 1,000 making it Rs. 2,000
per Month and increased salary of government employees by 25%. This
Budget has aimed for the Growth Rate of 6.5 percent limiting the
Inflation Rate to 7.5 percent. - See more at:
http://www.nbsm.com.np/detail/111/nepal-budget-207374-201617-analysis-from-tax-perspective#sthash.sJnTtcW3.dpuf
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