Nepal today unveiled a USD 6.18 billion budget for 2014-15, according priority to energy generation and tourism, while laying focus on attracting foreign investors to spur growth.
Finance Minister Ram Sharan Mahat, while presenting the budget in Parliament, said the budget has accorded priority to hydro-power generation and agriculture.
He claimed that Nepal will be free of load-shedding in three years and it would be in a position to export electricity during summer.
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To promote tourism, the Finance Minister said the government will construct a second international airport at Nijgadh, in Bara district in southern Nepal. Mahat allocated NRs 50 million for the construction of the airport.
The capacity of Tribhuvan International Airport, the only international airport in Nepal, will also be upgraded, he said.
He unveiled a NRs 618-billion (USD 6.18 billion) budget for the new fiscal year beginning from July 16.
The finance minister earmarked NRs 34 billion for the construction of roads and bridges across the country.
The budget has allocated NRs 12.62 billion for energy generation, while NRs 13.55 billion has been allocated for the construction of transmission line.
The budge aims to generate 25 MW of electricity in Kathmandu valley using solar panels.
The government has allocated NRs 37.8 billion for various security agencies of the country.
Formulation of master plans for the development of Lumbini and Pashupatinath Temple has also been included in the budget.
The finance minister said the budget is reforms-oriented and investment-friendly.
