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			'id' => '13478',
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			'title' => 'Farmers Cry Foul Over ‘No Budget’ for Poultry Farming and Floriculture ',
			'sub_title' => '',
			'summary' => 'May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. They complained that budget presented by finance minister on Saturday did not address the concerns of both of these sectors.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The farmers argued that an agricultural country like Nepal with more than 65 percent farmers cannot become self-reliant in agriculture if the government allocates only 2.78 percent of the total budget to the agriculture and livestock sector. Likewise, the farmers are frustrated that the poultry and floriculture business, which has provided employment to millions of people in the country, has not been included in the budget.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">General Secretary of the Nepal Poultry Federation Dinesh Raj Mishra lamented that poultry sector was not mentioned in the budget. The contribution of poultry sector to Nepal&lsquo;s GDP is Rs 180 billion. He said that the government has completely ignored the poultry industry which has a huge contribution to the overall economy of the country.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, florists have also expressed concern that the budget does not include them. Kumar Kasaju Shrestha, president of the Floriculture Association of Nepal, said that the government has ignored the floriculture business that has an investment of Rs 6.5 billion in the country. He said that they had hoped the government would address their concerns through the budget at a time when their business was in crisis due to the lockdown. However, the budget did not cover all the sectors of agriculture. He said this has disappointed all farmers and businessmen.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The overall floriculture business is losing Rs 10 million daily due to the lockdown. The business, spread across 43 districts, has provided employment to more than 40,000 people directly and indirectly. A large part of this business is connected with various gatherings, weddings, and banquets, programmes and tourism sector and as these sectors are largely affected, the floriculture business is in crisis and has also halted production due to coronavirus.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13477',
			'article_category_id' => '1',
			'title' => 'Hydro Power Producers Resent Government’s Failure to Provide Subsidy on VAT despite its Declaration ',
			'sub_title' => '',
			'summary' => 'May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. The government has not allocated any amount in this regard in the budget for the upcoming fiscal year which was announced on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In 2015, the government had announced to provide Rs 5 million grant on VAT per megawatt to the promoter companies of power projects to be completed within a decade by issuing a concept paper on National Energy Crisis Mitigation and Power Development Decade. In addition, it was said that the projects completed by 2015 would also receive the grant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has already unveiled five budgets after announcing the grant. However, the promoters say that none of the budgets has addressed the issue.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya said that it was unfortunate that the grant was not implemented even after the announcement.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The government has already decided to subsidize VAT for power projects. The required amount has to be allocated through the budget. However, even after 5-6 years, this issue has not found a place in the budget. We will not remain silent in this regard. We will continue our initiative for this,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson for the Ministry of Energy Madhu Prasad Bhetwal said that the Ministry of Finance is the body to take a necessary decision in this regard. &ldquo;At that time, we had offered a grant of Rs 10 million. The finance ministry reduced it to Rs 5 million,&rdquo; he said, adding, &ldquo;We have not been able to understand why the implementation has been delayed.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Secretary at the Ministry of Finance Shishir Kumar Dhungana also admitted that the budget could not address the issue. He said that this time the issue could not be addressed because it did not fall in priority list and there were other pressing issues.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The coronavirus pandemic and its impact grabbed our attention while preparing budget. Therefore, this issue could not be addressed in the current budget,&rdquo; he said, &ldquo;However, it is an issue that the government has already decided. We will make necessary arrangements and implement them.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced such a concessional package to private sector promoters in 2015 intending to encourage power generation during the time of load-shedding. The government had made public a 99-point concept paper on energy crisis mitigation. However, the failure to implement it has discouraged energy producers of the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced a grant of Rs 5 million per megawatt to the promoter companies of the project to be completed by 2026. They also said that a grant of Rs 5.5 million per megawatt would be given if the construction is completed by 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Many projects have been completed even after the government announced the exemption. However, IPPAN chairman Acharya said that they have not received the facility announced by the government. He stressed the need to implement the government&#39;s declaration as soon as possible.</span></span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>
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			'id' => '13476',
			'article_category_id' => '1',
			'title' => 'Humla to be Linked to National Highway',
			'sub_title' => '',
			'summary' => 'May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. This will happen in the coming fiscal year, according to the budget estimates presented by Finance Minister Bishnu Prasad Paudel on Saturday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Of the 77 district headquarters of the country, only Simikot is yet to be linked to the national highway. The pledge to change this reality features in every fiscal year budget though it has not yet been realized.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The budget estimates also includes construction of a trekking route in Simikot as well as in the lower Dolpa area. Likewise, construction of a dry port will begin in Yari of Namkha rural municipality.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has also allocated budget for construction of an access road in Hilsa region. The budget also features funds to be allocated for operation of maternity and neonatal care service in the district hospital. -- RSS&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;"><img alt="" src="/app/webroot/userfiles/images/20181226034129_IMG_8456.JPG" style="height:533px; width:800px" /></span></span></span></p>
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			'id' => '13475',
			'article_category_id' => '1',
			'title' => 'Budget for Agriculture up by Rs 3.69 Billion',
			'sub_title' => '',
			'summary' => 'May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22).',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Manisha Balami</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22), which is Rs 3.69 billion more than the budget allocated for the current fiscal year. The government had allocated Rs 41.40 billion for the agriculture sector for the current fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year on Saturday, Finance Minister Bishnu Poudel said that the agriculture sector would be developed as the main basis of a prosperous economy. For this, the government plans to modernise and commercialise the agriculture sector. He said that the Prime Minister&rsquo;s Agriculture Modernisation Project will be made more effective and an additional 71 zones to promote agriculture, fisheries and livestock production would be brought into operation.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Tax exemption will be given for the imports of agricultural tools, equipment and spare parts. Likewise, the government has given continuity to 50 percent subsidy in farm insurance premium.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Grants will be provided to the local level for purchasing agricultural equipment such as combine harvester, power teller, cultivator, rotavator, and harrow in the pocket areas. Minister Poudel announced that in order to provide technical assistance to the farmers in the project area, 300 students studying at the undergraduate level in agriculture will be assigned as interns.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel, Rs 7.60 billion has been allocated for providing concessional loan to the farmers. The government has also made an arrangement to provide subsidy of up to 50 percent to the farmers who purchase improved seeds from licensed sellers. Moreover, five million fruit seedlings will be produced by establishing medium and high-technology multi-purpose nursery. In addition, 50 percent subsidy will be provided for purchasing plants to promote apple farming in Manang, Mustang, Jumla and other Himalayan districts.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Minister Poudel said that sugarcane farmers will &nbsp;now onward get their subsidy within 15 days of sale of sugarcane to sugar mills. He informed that Rs 840 million has been allocated for this purpose.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The existing agricultural subsidy system will be reviewed and production-based incentive grants will be provided to the farmers, agri-entrepreneurs, farmers&rsquo; group and cooperatives.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has planned to provide the unused government farms and barren lands to the private sector on lease for commercial farming. Poudel informed that the budget has been allocated to encourage the private sector for commercial animal husbandry in Manang, Mustang, Myagdi, Dolpa and other districts of Himalayan region and floriculture in districts like Bhojpur, Nuwakot, and Baitadi.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai%281%29.jpg" style="height:480px; width:531px" /></span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Announcing the budget, Minister Poudel said that adequate supply of chemical fertilisers would be ensured prior to the time of plantation. He informed that the budget has been allocated to set up a chemical fertiliser plant within three years. Rs 12 billion will be allocated for the establishment of a chemical fertiliser plant in the country.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The government has made arrangements to buy agricultural products of farmers in order to encourage them for farming and make the supply management easy and regular. He said that 200 food storage centers and 89 cold storages will be established throughout the local levels.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Budget has been allocated for irrigation so that the irrigation facility is easily available to the farmers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20210106123441_20201105020829_cover%281%29.jpg" style="height:517px; width:800px" /></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13474',
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			'title' => 'Government Announces Wide Range of Tax Incentives in Budget ',
			'sub_title' => '',
			'summary' => 'May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is providing 90 percent of income tax waiver to the taxpayers with an annual turnover of two million rupees. In the current fiscal year, the government is providing 75% of income tax waiver to the small cottage industries.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the upcoming fiscal year, taxpayers with an annual income of Rs two to five million will get tax waiver of 75 percent and taxpayers with annual income of Rs 5 million to Rs 10 million will get tax waiver of 50 percent.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government has announced that it will not charge additional fees against taxpayers paying tax within the stipulated time. Taxpayers are required to pay tax within mid-June and interest applicable to it by mid-Jan, 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is waiving off VAT on the purchase of diesel and LP gas used for business enterprises. Similarly, people have been provided with tax and excise duty exemption on the production and distribution of oxygen gas, liquid oxygen, oxygen cylinder, oxygen concentrator, medicines and import of medicines.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Excise duty applied on import of electric vehicles has been removed and customs duty has also been significantly reduced. Customs duty of induction cooker has been reduced to one percent and customs and excise duties have been reduced on refrigerator, grinder, rice cooker, fan among others.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Customers will get an immediate refund of 10 percent VAT on the items purchased through the payment of electronic gateways like debit, credit cards, QR code and scan and pay.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">With an aim to protect the domestic industries, customs duty of raw material will be made one level cheaper than that of the ready-made goods. Similarly, customs duty waiver has been provided to the import of machines, equipment and parts being used by tea, jute, cinema, pashmina, and hatchery industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Startup business will be receiving 100 percent income tax waiver for the five years since the establishment of the business. If the private sector provides seed capital of Rs 100,000 the amount will not be taxable while calculating the tax amount.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile the government has increased excise duty on alcohol, beer, cigarettes and other tobacco items. The government has increased the capital gains tax on short-term capital market investors. Share investors selling shares before 365 days are applicable to pay 7.5 capital gains tax while long-term investors, selling shares after a year, will be subjected to 5 percent capital gains tax. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13471',
			'article_category_id' => '1',
			'title' => 'Spending on Battle Against Covid Important, So Is Wooing Voters—FM’s Rs 1.65 Trillion Budget Message',
			'sub_title' => '',
			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.',
			'content' => '<p>Sagar Ghimire<br />
Kathmandu, May 30:<br />
Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.<br />
The budget&mdash;introduced in the form of ordinance in the absence of the parliament&mdash;ramps up spending on healthcare, plans to finance vaccination, raises social security allowances for the elderly people and salary to government employees and gives continuity to the funding of ongoing major development programs and projects.<br />
This is the fourth budget of the current KP Oli-led government that rose to power in February 2018 after an electoral alliance of his party CPN (UML) and CPN (Maoist-Center) swept parliamentary elections in December 2017. The previous three budgets were delivered by former Finance Minister Yuba Raj Khatiwada.</p>

<p><strong>Focus on fight against Covid-19</strong><br />
As Covid second wave rages, Finance Minister Paudel announced a spending of Rs 37.53 billion to combat the pandemic. This is in addition to Rs 122.78 billion earmarked to the Ministry of Health and Population for the health-related spending.<br />
He said that the government will expand free test and treatment from government-owned hospitals and labs, 50 percent capital subsidy for private hospitals to install oxygen plants, procurement of ICU, HDU, ventilators and test kits among other medical equipment for the treatment of Covid-19 patients. While continuing the risk allowance for frontline staff, Finance Minister Paudel also announced the government plan to mobilize retired or interning doctors, nurses and health workers with 50 percent risk allowance and full salary in one year contract. &nbsp;<br />
To provide Covid-19 jabs to the people at free of cost, Finance Minister Paudel allocated Rs 26.75 billion for the vaccination. &nbsp;<br />
The budget delivered by the Finance Minister Paudel amid devastating second wave of coronavirus and closure of economy due to prohibitory orders imposed in many parts of the country also includes some relief measures to&nbsp;the private sector as well as general public and put the economy on the track of recovery.<br />
In addition to giving continuity to &lsquo;Business Continuity Loan Scheme&rsquo; and pledging to expand the sectors and fund under the central bank-administered refinancing facility, Finance Minister Paudel also announced a raft of tax rebates and waivers for businesses and firms.<br />
The government set a target to achieve 6.5 percent of economic growth in the upcoming fiscal year.<br />
&nbsp;<br />
<strong>&lsquo;Populist and Distributive&rsquo; Budget</strong><br />
Finance Minister Paudel shrugged off widespread pressure to not introduce the full-fledged budget through ordinance when the House dissolution case is subjudice at the Supreme Court. &nbsp;In his budget, he presented his spending plan that is designed to appease and influence voters, say opposition leaders and experts. &nbsp;<br />
Baburam Bhattarai, a former Prime Minister and Chairman of Janata Samajwadi Party, is one among them. Bhattarai, who is also a former Finance Minister, came down heavily on the government for introducing the populist budget. In his tweet post, Former Prime Minister Bhattarai said that the Finance Minister read out the &lsquo;election manifesto&rsquo; of ruling CPN (UML) as a budget speech that promises to distribute &lsquo;lollipops&rsquo; to innocent voters.&nbsp;<br />
Dissolving the House of Representatives on May 21, the government has announced the mid-term elections for November 12 and 13. &nbsp;<br />
All types of social security allowances have been raised by 33 percent. As announced by Prime Minister Oli recently, Finance Minister Paudel increased the monthly allowance to senior citizens by Rs 1,000 to Rs 4,000.<br />
From a scheme to offer loans to college and university students for the purchase of laptops at one percent interest to a plan of free medical treatment to journalists, the budget incorporates various populist programmes. &nbsp;<br />
&ldquo;On the one hand, Finance Minister Paudel has announced setting up of the Pay Commission for the longer-term pay and perks reforms, and on the other, he has also raised the salary by Rs 2,000 per month for government employees,&rdquo; Krishna Gyawali, a former government secretary, told New Business Age. &ldquo;This short-term staff incentive measure is appeasingly illogical and highly unconvincing, which only justifies the allegations that, though cautiously guarded, it is still a populist and election-oriented budget,&rdquo; said Gyawali, who had also worked as a joint secretary in the Ministry of Finance. &nbsp;&nbsp;<br />
However, the Finance Minister decided to scrap the Local Infrastructure Development Programme. The programme, commonly known as Constituency Development Fund, was drawing criticism for giving funds directly to lawmakers to be invested in their constituencies with little or no transparency and oversight on spending. The termination of the programme also comes in the wake of dissolution of the House of Representatives and announcement of mid-term elections. Despite calls to discontinue such pork barrel funding, the government, in the current fiscal year, had allocated a total of Rs 6.6 billion for the programme to distribute Rs 40 million to each lawmaker to spend money in their constituencies.<br />
There are concerns not only in the process of introducing the budget with no parliamentary scrutiny, but also in the government&rsquo;s capacity to implement it.</p>

<p>&ldquo;The government will face immense political and systemic challenges to implement this budget not only because there is no robust institutional departure with regard to resetting the rules and routes of implementation but also because this budget is devoid of &lsquo;political legitimacy&rsquo;. The budget suffers from a likely lack of needed political support for creating a conducive implementation climate on the ground,&rdquo; said Gyawali.<br />
&nbsp;<br />
<strong>&nbsp;Job Creation Targets</strong><br />
Creation of employment opportunities also seemed to be a priority in the budget. As thousands of workers have either lost their jobs due to the pandemic, the government plans to generate 200,000 jobs in the upcoming fiscal year through the Prime Minister Employment Programme with a plan to spend Rs 12 billion.<br />
He also said that the government will provide skill training to 100,000 youths who have lost their jobs or returned from foreign employment. For the training on handicraft, plumbing, carpentry, vehicle and mobile repairing, beautician, Finance Minister announced a spending of Rs 400 million. &nbsp;<br />
In the budget, the government also expects 350,000 jobs creation from its partnership with the private sector. It has also set a target of creating 12,000 new jobs from its Youth Self Employment Fund. &nbsp;&nbsp;<br />
&nbsp;</p>
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			'id' => '13473',
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			'title' => 'Budget for FY2021/22 presented in Three Charts ',
			'sub_title' => '',
			'summary' => 'These three graphs sum up the the figures presented in the budget for upcoming fiscal year',
			'content' => '<p>May 30:&nbsp;<br />
Minister for Finance Bishnu Prasad Paudel on Saturday unveiled the budget of Rs 1,647.57 billion for upcoming fiscal year (2021/22) through an ordinance. These three charts sum up the&nbsp;key figures presented in the budget:&nbsp;<br />
&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Expenditures_Budget.jpg" style="height:320px; width:600px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Income%20Projections_Budget_.jpg" style="height:319px; width:617px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Sector%20Wise%20Spending.JPG" style="height:363px; width:617px" /></p>
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			'title' => 'Stakeholders' Reaction to Budget',
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			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
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			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13468',
			'article_category_id' => '1',
			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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			'article_date' => '2021-05-29 18:44:52',
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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			'article_date' => '2021-05-29 18:24:32',
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13465',
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			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
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			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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		'Article' => array(
			'id' => '13478',
			'article_category_id' => '1',
			'title' => 'Farmers Cry Foul Over ‘No Budget’ for Poultry Farming and Floriculture ',
			'sub_title' => '',
			'summary' => 'May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. They complained that budget presented by finance minister on Saturday did not address the concerns of both of these sectors.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The farmers argued that an agricultural country like Nepal with more than 65 percent farmers cannot become self-reliant in agriculture if the government allocates only 2.78 percent of the total budget to the agriculture and livestock sector. Likewise, the farmers are frustrated that the poultry and floriculture business, which has provided employment to millions of people in the country, has not been included in the budget.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">General Secretary of the Nepal Poultry Federation Dinesh Raj Mishra lamented that poultry sector was not mentioned in the budget. The contribution of poultry sector to Nepal&lsquo;s GDP is Rs 180 billion. He said that the government has completely ignored the poultry industry which has a huge contribution to the overall economy of the country.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, florists have also expressed concern that the budget does not include them. Kumar Kasaju Shrestha, president of the Floriculture Association of Nepal, said that the government has ignored the floriculture business that has an investment of Rs 6.5 billion in the country. He said that they had hoped the government would address their concerns through the budget at a time when their business was in crisis due to the lockdown. However, the budget did not cover all the sectors of agriculture. He said this has disappointed all farmers and businessmen.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The overall floriculture business is losing Rs 10 million daily due to the lockdown. The business, spread across 43 districts, has provided employment to more than 40,000 people directly and indirectly. A large part of this business is connected with various gatherings, weddings, and banquets, programmes and tourism sector and as these sectors are largely affected, the floriculture business is in crisis and has also halted production due to coronavirus.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13477',
			'article_category_id' => '1',
			'title' => 'Hydro Power Producers Resent Government’s Failure to Provide Subsidy on VAT despite its Declaration ',
			'sub_title' => '',
			'summary' => 'May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. The government has not allocated any amount in this regard in the budget for the upcoming fiscal year which was announced on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In 2015, the government had announced to provide Rs 5 million grant on VAT per megawatt to the promoter companies of power projects to be completed within a decade by issuing a concept paper on National Energy Crisis Mitigation and Power Development Decade. In addition, it was said that the projects completed by 2015 would also receive the grant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has already unveiled five budgets after announcing the grant. However, the promoters say that none of the budgets has addressed the issue.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya said that it was unfortunate that the grant was not implemented even after the announcement.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The government has already decided to subsidize VAT for power projects. The required amount has to be allocated through the budget. However, even after 5-6 years, this issue has not found a place in the budget. We will not remain silent in this regard. We will continue our initiative for this,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson for the Ministry of Energy Madhu Prasad Bhetwal said that the Ministry of Finance is the body to take a necessary decision in this regard. &ldquo;At that time, we had offered a grant of Rs 10 million. The finance ministry reduced it to Rs 5 million,&rdquo; he said, adding, &ldquo;We have not been able to understand why the implementation has been delayed.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Secretary at the Ministry of Finance Shishir Kumar Dhungana also admitted that the budget could not address the issue. He said that this time the issue could not be addressed because it did not fall in priority list and there were other pressing issues.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The coronavirus pandemic and its impact grabbed our attention while preparing budget. Therefore, this issue could not be addressed in the current budget,&rdquo; he said, &ldquo;However, it is an issue that the government has already decided. We will make necessary arrangements and implement them.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced such a concessional package to private sector promoters in 2015 intending to encourage power generation during the time of load-shedding. The government had made public a 99-point concept paper on energy crisis mitigation. However, the failure to implement it has discouraged energy producers of the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced a grant of Rs 5 million per megawatt to the promoter companies of the project to be completed by 2026. They also said that a grant of Rs 5.5 million per megawatt would be given if the construction is completed by 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Many projects have been completed even after the government announced the exemption. However, IPPAN chairman Acharya said that they have not received the facility announced by the government. He stressed the need to implement the government&#39;s declaration as soon as possible.</span></span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>
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			'id' => '13476',
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			'title' => 'Humla to be Linked to National Highway',
			'sub_title' => '',
			'summary' => 'May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. This will happen in the coming fiscal year, according to the budget estimates presented by Finance Minister Bishnu Prasad Paudel on Saturday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Of the 77 district headquarters of the country, only Simikot is yet to be linked to the national highway. The pledge to change this reality features in every fiscal year budget though it has not yet been realized.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The budget estimates also includes construction of a trekking route in Simikot as well as in the lower Dolpa area. Likewise, construction of a dry port will begin in Yari of Namkha rural municipality.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has also allocated budget for construction of an access road in Hilsa region. The budget also features funds to be allocated for operation of maternity and neonatal care service in the district hospital. -- RSS&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;"><img alt="" src="/app/webroot/userfiles/images/20181226034129_IMG_8456.JPG" style="height:533px; width:800px" /></span></span></span></p>
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			'id' => '13475',
			'article_category_id' => '1',
			'title' => 'Budget for Agriculture up by Rs 3.69 Billion',
			'sub_title' => '',
			'summary' => 'May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22).',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Manisha Balami</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22), which is Rs 3.69 billion more than the budget allocated for the current fiscal year. The government had allocated Rs 41.40 billion for the agriculture sector for the current fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year on Saturday, Finance Minister Bishnu Poudel said that the agriculture sector would be developed as the main basis of a prosperous economy. For this, the government plans to modernise and commercialise the agriculture sector. He said that the Prime Minister&rsquo;s Agriculture Modernisation Project will be made more effective and an additional 71 zones to promote agriculture, fisheries and livestock production would be brought into operation.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Tax exemption will be given for the imports of agricultural tools, equipment and spare parts. Likewise, the government has given continuity to 50 percent subsidy in farm insurance premium.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Grants will be provided to the local level for purchasing agricultural equipment such as combine harvester, power teller, cultivator, rotavator, and harrow in the pocket areas. Minister Poudel announced that in order to provide technical assistance to the farmers in the project area, 300 students studying at the undergraduate level in agriculture will be assigned as interns.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel, Rs 7.60 billion has been allocated for providing concessional loan to the farmers. The government has also made an arrangement to provide subsidy of up to 50 percent to the farmers who purchase improved seeds from licensed sellers. Moreover, five million fruit seedlings will be produced by establishing medium and high-technology multi-purpose nursery. In addition, 50 percent subsidy will be provided for purchasing plants to promote apple farming in Manang, Mustang, Jumla and other Himalayan districts.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Minister Poudel said that sugarcane farmers will &nbsp;now onward get their subsidy within 15 days of sale of sugarcane to sugar mills. He informed that Rs 840 million has been allocated for this purpose.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The existing agricultural subsidy system will be reviewed and production-based incentive grants will be provided to the farmers, agri-entrepreneurs, farmers&rsquo; group and cooperatives.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has planned to provide the unused government farms and barren lands to the private sector on lease for commercial farming. Poudel informed that the budget has been allocated to encourage the private sector for commercial animal husbandry in Manang, Mustang, Myagdi, Dolpa and other districts of Himalayan region and floriculture in districts like Bhojpur, Nuwakot, and Baitadi.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai%281%29.jpg" style="height:480px; width:531px" /></span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Announcing the budget, Minister Poudel said that adequate supply of chemical fertilisers would be ensured prior to the time of plantation. He informed that the budget has been allocated to set up a chemical fertiliser plant within three years. Rs 12 billion will be allocated for the establishment of a chemical fertiliser plant in the country.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The government has made arrangements to buy agricultural products of farmers in order to encourage them for farming and make the supply management easy and regular. He said that 200 food storage centers and 89 cold storages will be established throughout the local levels.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Budget has been allocated for irrigation so that the irrigation facility is easily available to the farmers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20210106123441_20201105020829_cover%281%29.jpg" style="height:517px; width:800px" /></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Announces Wide Range of Tax Incentives in Budget ',
			'sub_title' => '',
			'summary' => 'May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is providing 90 percent of income tax waiver to the taxpayers with an annual turnover of two million rupees. In the current fiscal year, the government is providing 75% of income tax waiver to the small cottage industries.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the upcoming fiscal year, taxpayers with an annual income of Rs two to five million will get tax waiver of 75 percent and taxpayers with annual income of Rs 5 million to Rs 10 million will get tax waiver of 50 percent.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government has announced that it will not charge additional fees against taxpayers paying tax within the stipulated time. Taxpayers are required to pay tax within mid-June and interest applicable to it by mid-Jan, 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is waiving off VAT on the purchase of diesel and LP gas used for business enterprises. Similarly, people have been provided with tax and excise duty exemption on the production and distribution of oxygen gas, liquid oxygen, oxygen cylinder, oxygen concentrator, medicines and import of medicines.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Excise duty applied on import of electric vehicles has been removed and customs duty has also been significantly reduced. Customs duty of induction cooker has been reduced to one percent and customs and excise duties have been reduced on refrigerator, grinder, rice cooker, fan among others.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Customers will get an immediate refund of 10 percent VAT on the items purchased through the payment of electronic gateways like debit, credit cards, QR code and scan and pay.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">With an aim to protect the domestic industries, customs duty of raw material will be made one level cheaper than that of the ready-made goods. Similarly, customs duty waiver has been provided to the import of machines, equipment and parts being used by tea, jute, cinema, pashmina, and hatchery industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Startup business will be receiving 100 percent income tax waiver for the five years since the establishment of the business. If the private sector provides seed capital of Rs 100,000 the amount will not be taxable while calculating the tax amount.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile the government has increased excise duty on alcohol, beer, cigarettes and other tobacco items. The government has increased the capital gains tax on short-term capital market investors. Share investors selling shares before 365 days are applicable to pay 7.5 capital gains tax while long-term investors, selling shares after a year, will be subjected to 5 percent capital gains tax. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Spending on Battle Against Covid Important, So Is Wooing Voters—FM’s Rs 1.65 Trillion Budget Message',
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.',
			'content' => '<p>Sagar Ghimire<br />
Kathmandu, May 30:<br />
Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.<br />
The budget&mdash;introduced in the form of ordinance in the absence of the parliament&mdash;ramps up spending on healthcare, plans to finance vaccination, raises social security allowances for the elderly people and salary to government employees and gives continuity to the funding of ongoing major development programs and projects.<br />
This is the fourth budget of the current KP Oli-led government that rose to power in February 2018 after an electoral alliance of his party CPN (UML) and CPN (Maoist-Center) swept parliamentary elections in December 2017. The previous three budgets were delivered by former Finance Minister Yuba Raj Khatiwada.</p>

<p><strong>Focus on fight against Covid-19</strong><br />
As Covid second wave rages, Finance Minister Paudel announced a spending of Rs 37.53 billion to combat the pandemic. This is in addition to Rs 122.78 billion earmarked to the Ministry of Health and Population for the health-related spending.<br />
He said that the government will expand free test and treatment from government-owned hospitals and labs, 50 percent capital subsidy for private hospitals to install oxygen plants, procurement of ICU, HDU, ventilators and test kits among other medical equipment for the treatment of Covid-19 patients. While continuing the risk allowance for frontline staff, Finance Minister Paudel also announced the government plan to mobilize retired or interning doctors, nurses and health workers with 50 percent risk allowance and full salary in one year contract. &nbsp;<br />
To provide Covid-19 jabs to the people at free of cost, Finance Minister Paudel allocated Rs 26.75 billion for the vaccination. &nbsp;<br />
The budget delivered by the Finance Minister Paudel amid devastating second wave of coronavirus and closure of economy due to prohibitory orders imposed in many parts of the country also includes some relief measures to&nbsp;the private sector as well as general public and put the economy on the track of recovery.<br />
In addition to giving continuity to &lsquo;Business Continuity Loan Scheme&rsquo; and pledging to expand the sectors and fund under the central bank-administered refinancing facility, Finance Minister Paudel also announced a raft of tax rebates and waivers for businesses and firms.<br />
The government set a target to achieve 6.5 percent of economic growth in the upcoming fiscal year.<br />
&nbsp;<br />
<strong>&lsquo;Populist and Distributive&rsquo; Budget</strong><br />
Finance Minister Paudel shrugged off widespread pressure to not introduce the full-fledged budget through ordinance when the House dissolution case is subjudice at the Supreme Court. &nbsp;In his budget, he presented his spending plan that is designed to appease and influence voters, say opposition leaders and experts. &nbsp;<br />
Baburam Bhattarai, a former Prime Minister and Chairman of Janata Samajwadi Party, is one among them. Bhattarai, who is also a former Finance Minister, came down heavily on the government for introducing the populist budget. In his tweet post, Former Prime Minister Bhattarai said that the Finance Minister read out the &lsquo;election manifesto&rsquo; of ruling CPN (UML) as a budget speech that promises to distribute &lsquo;lollipops&rsquo; to innocent voters.&nbsp;<br />
Dissolving the House of Representatives on May 21, the government has announced the mid-term elections for November 12 and 13. &nbsp;<br />
All types of social security allowances have been raised by 33 percent. As announced by Prime Minister Oli recently, Finance Minister Paudel increased the monthly allowance to senior citizens by Rs 1,000 to Rs 4,000.<br />
From a scheme to offer loans to college and university students for the purchase of laptops at one percent interest to a plan of free medical treatment to journalists, the budget incorporates various populist programmes. &nbsp;<br />
&ldquo;On the one hand, Finance Minister Paudel has announced setting up of the Pay Commission for the longer-term pay and perks reforms, and on the other, he has also raised the salary by Rs 2,000 per month for government employees,&rdquo; Krishna Gyawali, a former government secretary, told New Business Age. &ldquo;This short-term staff incentive measure is appeasingly illogical and highly unconvincing, which only justifies the allegations that, though cautiously guarded, it is still a populist and election-oriented budget,&rdquo; said Gyawali, who had also worked as a joint secretary in the Ministry of Finance. &nbsp;&nbsp;<br />
However, the Finance Minister decided to scrap the Local Infrastructure Development Programme. The programme, commonly known as Constituency Development Fund, was drawing criticism for giving funds directly to lawmakers to be invested in their constituencies with little or no transparency and oversight on spending. The termination of the programme also comes in the wake of dissolution of the House of Representatives and announcement of mid-term elections. Despite calls to discontinue such pork barrel funding, the government, in the current fiscal year, had allocated a total of Rs 6.6 billion for the programme to distribute Rs 40 million to each lawmaker to spend money in their constituencies.<br />
There are concerns not only in the process of introducing the budget with no parliamentary scrutiny, but also in the government&rsquo;s capacity to implement it.</p>

<p>&ldquo;The government will face immense political and systemic challenges to implement this budget not only because there is no robust institutional departure with regard to resetting the rules and routes of implementation but also because this budget is devoid of &lsquo;political legitimacy&rsquo;. The budget suffers from a likely lack of needed political support for creating a conducive implementation climate on the ground,&rdquo; said Gyawali.<br />
&nbsp;<br />
<strong>&nbsp;Job Creation Targets</strong><br />
Creation of employment opportunities also seemed to be a priority in the budget. As thousands of workers have either lost their jobs due to the pandemic, the government plans to generate 200,000 jobs in the upcoming fiscal year through the Prime Minister Employment Programme with a plan to spend Rs 12 billion.<br />
He also said that the government will provide skill training to 100,000 youths who have lost their jobs or returned from foreign employment. For the training on handicraft, plumbing, carpentry, vehicle and mobile repairing, beautician, Finance Minister announced a spending of Rs 400 million. &nbsp;<br />
In the budget, the government also expects 350,000 jobs creation from its partnership with the private sector. It has also set a target of creating 12,000 new jobs from its Youth Self Employment Fund. &nbsp;&nbsp;<br />
&nbsp;</p>
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			'title' => 'Budget for FY2021/22 presented in Three Charts ',
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			'summary' => 'These three graphs sum up the the figures presented in the budget for upcoming fiscal year',
			'content' => '<p>May 30:&nbsp;<br />
Minister for Finance Bishnu Prasad Paudel on Saturday unveiled the budget of Rs 1,647.57 billion for upcoming fiscal year (2021/22) through an ordinance. These three charts sum up the&nbsp;key figures presented in the budget:&nbsp;<br />
&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Expenditures_Budget.jpg" style="height:320px; width:600px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Income%20Projections_Budget_.jpg" style="height:319px; width:617px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Sector%20Wise%20Spending.JPG" style="height:363px; width:617px" /></p>
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			'title' => 'Stakeholders' Reaction to Budget',
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			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'article_date' => '2021-05-29 19:00:37',
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		'Article' => array(
			'id' => '13470',
			'article_category_id' => '1',
			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20210529072134_NTC-launches-4G-in-Rara-Lake.jpg',
			'article_date' => '2021-05-29 19:20:46',
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		'Article' => array(
			'id' => '13468',
			'article_category_id' => '1',
			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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			'article_date' => '2021-05-29 18:44:52',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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			'sortorder' => '13212',
			'image' => '20210529062517_The-old-age-allowance.jpg',
			'article_date' => '2021-05-29 18:24:32',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13465',
			'article_category_id' => '1',
			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
			'sub_title' => '',
			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'title' => 'Three Ordinances Related to Budget Issued ',
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			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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		'Article' => array(
			'id' => '13478',
			'article_category_id' => '1',
			'title' => 'Farmers Cry Foul Over ‘No Budget’ for Poultry Farming and Floriculture ',
			'sub_title' => '',
			'summary' => 'May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. They complained that budget presented by finance minister on Saturday did not address the concerns of both of these sectors.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The farmers argued that an agricultural country like Nepal with more than 65 percent farmers cannot become self-reliant in agriculture if the government allocates only 2.78 percent of the total budget to the agriculture and livestock sector. Likewise, the farmers are frustrated that the poultry and floriculture business, which has provided employment to millions of people in the country, has not been included in the budget.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">General Secretary of the Nepal Poultry Federation Dinesh Raj Mishra lamented that poultry sector was not mentioned in the budget. The contribution of poultry sector to Nepal&lsquo;s GDP is Rs 180 billion. He said that the government has completely ignored the poultry industry which has a huge contribution to the overall economy of the country.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, florists have also expressed concern that the budget does not include them. Kumar Kasaju Shrestha, president of the Floriculture Association of Nepal, said that the government has ignored the floriculture business that has an investment of Rs 6.5 billion in the country. He said that they had hoped the government would address their concerns through the budget at a time when their business was in crisis due to the lockdown. However, the budget did not cover all the sectors of agriculture. He said this has disappointed all farmers and businessmen.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The overall floriculture business is losing Rs 10 million daily due to the lockdown. The business, spread across 43 districts, has provided employment to more than 40,000 people directly and indirectly. A large part of this business is connected with various gatherings, weddings, and banquets, programmes and tourism sector and as these sectors are largely affected, the floriculture business is in crisis and has also halted production due to coronavirus.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Hydro Power Producers Resent Government’s Failure to Provide Subsidy on VAT despite its Declaration ',
			'sub_title' => '',
			'summary' => 'May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. The government has not allocated any amount in this regard in the budget for the upcoming fiscal year which was announced on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In 2015, the government had announced to provide Rs 5 million grant on VAT per megawatt to the promoter companies of power projects to be completed within a decade by issuing a concept paper on National Energy Crisis Mitigation and Power Development Decade. In addition, it was said that the projects completed by 2015 would also receive the grant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has already unveiled five budgets after announcing the grant. However, the promoters say that none of the budgets has addressed the issue.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya said that it was unfortunate that the grant was not implemented even after the announcement.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The government has already decided to subsidize VAT for power projects. The required amount has to be allocated through the budget. However, even after 5-6 years, this issue has not found a place in the budget. We will not remain silent in this regard. We will continue our initiative for this,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson for the Ministry of Energy Madhu Prasad Bhetwal said that the Ministry of Finance is the body to take a necessary decision in this regard. &ldquo;At that time, we had offered a grant of Rs 10 million. The finance ministry reduced it to Rs 5 million,&rdquo; he said, adding, &ldquo;We have not been able to understand why the implementation has been delayed.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Secretary at the Ministry of Finance Shishir Kumar Dhungana also admitted that the budget could not address the issue. He said that this time the issue could not be addressed because it did not fall in priority list and there were other pressing issues.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The coronavirus pandemic and its impact grabbed our attention while preparing budget. Therefore, this issue could not be addressed in the current budget,&rdquo; he said, &ldquo;However, it is an issue that the government has already decided. We will make necessary arrangements and implement them.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced such a concessional package to private sector promoters in 2015 intending to encourage power generation during the time of load-shedding. The government had made public a 99-point concept paper on energy crisis mitigation. However, the failure to implement it has discouraged energy producers of the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced a grant of Rs 5 million per megawatt to the promoter companies of the project to be completed by 2026. They also said that a grant of Rs 5.5 million per megawatt would be given if the construction is completed by 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Many projects have been completed even after the government announced the exemption. However, IPPAN chairman Acharya said that they have not received the facility announced by the government. He stressed the need to implement the government&#39;s declaration as soon as possible.</span></span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>
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			'id' => '13476',
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			'title' => 'Humla to be Linked to National Highway',
			'sub_title' => '',
			'summary' => 'May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. This will happen in the coming fiscal year, according to the budget estimates presented by Finance Minister Bishnu Prasad Paudel on Saturday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Of the 77 district headquarters of the country, only Simikot is yet to be linked to the national highway. The pledge to change this reality features in every fiscal year budget though it has not yet been realized.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The budget estimates also includes construction of a trekking route in Simikot as well as in the lower Dolpa area. Likewise, construction of a dry port will begin in Yari of Namkha rural municipality.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has also allocated budget for construction of an access road in Hilsa region. The budget also features funds to be allocated for operation of maternity and neonatal care service in the district hospital. -- RSS&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;"><img alt="" src="/app/webroot/userfiles/images/20181226034129_IMG_8456.JPG" style="height:533px; width:800px" /></span></span></span></p>
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			'id' => '13475',
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			'title' => 'Budget for Agriculture up by Rs 3.69 Billion',
			'sub_title' => '',
			'summary' => 'May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22).',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Manisha Balami</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22), which is Rs 3.69 billion more than the budget allocated for the current fiscal year. The government had allocated Rs 41.40 billion for the agriculture sector for the current fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year on Saturday, Finance Minister Bishnu Poudel said that the agriculture sector would be developed as the main basis of a prosperous economy. For this, the government plans to modernise and commercialise the agriculture sector. He said that the Prime Minister&rsquo;s Agriculture Modernisation Project will be made more effective and an additional 71 zones to promote agriculture, fisheries and livestock production would be brought into operation.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Tax exemption will be given for the imports of agricultural tools, equipment and spare parts. Likewise, the government has given continuity to 50 percent subsidy in farm insurance premium.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Grants will be provided to the local level for purchasing agricultural equipment such as combine harvester, power teller, cultivator, rotavator, and harrow in the pocket areas. Minister Poudel announced that in order to provide technical assistance to the farmers in the project area, 300 students studying at the undergraduate level in agriculture will be assigned as interns.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel, Rs 7.60 billion has been allocated for providing concessional loan to the farmers. The government has also made an arrangement to provide subsidy of up to 50 percent to the farmers who purchase improved seeds from licensed sellers. Moreover, five million fruit seedlings will be produced by establishing medium and high-technology multi-purpose nursery. In addition, 50 percent subsidy will be provided for purchasing plants to promote apple farming in Manang, Mustang, Jumla and other Himalayan districts.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Minister Poudel said that sugarcane farmers will &nbsp;now onward get their subsidy within 15 days of sale of sugarcane to sugar mills. He informed that Rs 840 million has been allocated for this purpose.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The existing agricultural subsidy system will be reviewed and production-based incentive grants will be provided to the farmers, agri-entrepreneurs, farmers&rsquo; group and cooperatives.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has planned to provide the unused government farms and barren lands to the private sector on lease for commercial farming. Poudel informed that the budget has been allocated to encourage the private sector for commercial animal husbandry in Manang, Mustang, Myagdi, Dolpa and other districts of Himalayan region and floriculture in districts like Bhojpur, Nuwakot, and Baitadi.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai%281%29.jpg" style="height:480px; width:531px" /></span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Announcing the budget, Minister Poudel said that adequate supply of chemical fertilisers would be ensured prior to the time of plantation. He informed that the budget has been allocated to set up a chemical fertiliser plant within three years. Rs 12 billion will be allocated for the establishment of a chemical fertiliser plant in the country.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The government has made arrangements to buy agricultural products of farmers in order to encourage them for farming and make the supply management easy and regular. He said that 200 food storage centers and 89 cold storages will be established throughout the local levels.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Budget has been allocated for irrigation so that the irrigation facility is easily available to the farmers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20210106123441_20201105020829_cover%281%29.jpg" style="height:517px; width:800px" /></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Announces Wide Range of Tax Incentives in Budget ',
			'sub_title' => '',
			'summary' => 'May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is providing 90 percent of income tax waiver to the taxpayers with an annual turnover of two million rupees. In the current fiscal year, the government is providing 75% of income tax waiver to the small cottage industries.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the upcoming fiscal year, taxpayers with an annual income of Rs two to five million will get tax waiver of 75 percent and taxpayers with annual income of Rs 5 million to Rs 10 million will get tax waiver of 50 percent.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government has announced that it will not charge additional fees against taxpayers paying tax within the stipulated time. Taxpayers are required to pay tax within mid-June and interest applicable to it by mid-Jan, 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is waiving off VAT on the purchase of diesel and LP gas used for business enterprises. Similarly, people have been provided with tax and excise duty exemption on the production and distribution of oxygen gas, liquid oxygen, oxygen cylinder, oxygen concentrator, medicines and import of medicines.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Excise duty applied on import of electric vehicles has been removed and customs duty has also been significantly reduced. Customs duty of induction cooker has been reduced to one percent and customs and excise duties have been reduced on refrigerator, grinder, rice cooker, fan among others.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Customers will get an immediate refund of 10 percent VAT on the items purchased through the payment of electronic gateways like debit, credit cards, QR code and scan and pay.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">With an aim to protect the domestic industries, customs duty of raw material will be made one level cheaper than that of the ready-made goods. Similarly, customs duty waiver has been provided to the import of machines, equipment and parts being used by tea, jute, cinema, pashmina, and hatchery industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Startup business will be receiving 100 percent income tax waiver for the five years since the establishment of the business. If the private sector provides seed capital of Rs 100,000 the amount will not be taxable while calculating the tax amount.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile the government has increased excise duty on alcohol, beer, cigarettes and other tobacco items. The government has increased the capital gains tax on short-term capital market investors. Share investors selling shares before 365 days are applicable to pay 7.5 capital gains tax while long-term investors, selling shares after a year, will be subjected to 5 percent capital gains tax. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13471',
			'article_category_id' => '1',
			'title' => 'Spending on Battle Against Covid Important, So Is Wooing Voters—FM’s Rs 1.65 Trillion Budget Message',
			'sub_title' => '',
			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.',
			'content' => '<p>Sagar Ghimire<br />
Kathmandu, May 30:<br />
Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.<br />
The budget&mdash;introduced in the form of ordinance in the absence of the parliament&mdash;ramps up spending on healthcare, plans to finance vaccination, raises social security allowances for the elderly people and salary to government employees and gives continuity to the funding of ongoing major development programs and projects.<br />
This is the fourth budget of the current KP Oli-led government that rose to power in February 2018 after an electoral alliance of his party CPN (UML) and CPN (Maoist-Center) swept parliamentary elections in December 2017. The previous three budgets were delivered by former Finance Minister Yuba Raj Khatiwada.</p>

<p><strong>Focus on fight against Covid-19</strong><br />
As Covid second wave rages, Finance Minister Paudel announced a spending of Rs 37.53 billion to combat the pandemic. This is in addition to Rs 122.78 billion earmarked to the Ministry of Health and Population for the health-related spending.<br />
He said that the government will expand free test and treatment from government-owned hospitals and labs, 50 percent capital subsidy for private hospitals to install oxygen plants, procurement of ICU, HDU, ventilators and test kits among other medical equipment for the treatment of Covid-19 patients. While continuing the risk allowance for frontline staff, Finance Minister Paudel also announced the government plan to mobilize retired or interning doctors, nurses and health workers with 50 percent risk allowance and full salary in one year contract. &nbsp;<br />
To provide Covid-19 jabs to the people at free of cost, Finance Minister Paudel allocated Rs 26.75 billion for the vaccination. &nbsp;<br />
The budget delivered by the Finance Minister Paudel amid devastating second wave of coronavirus and closure of economy due to prohibitory orders imposed in many parts of the country also includes some relief measures to&nbsp;the private sector as well as general public and put the economy on the track of recovery.<br />
In addition to giving continuity to &lsquo;Business Continuity Loan Scheme&rsquo; and pledging to expand the sectors and fund under the central bank-administered refinancing facility, Finance Minister Paudel also announced a raft of tax rebates and waivers for businesses and firms.<br />
The government set a target to achieve 6.5 percent of economic growth in the upcoming fiscal year.<br />
&nbsp;<br />
<strong>&lsquo;Populist and Distributive&rsquo; Budget</strong><br />
Finance Minister Paudel shrugged off widespread pressure to not introduce the full-fledged budget through ordinance when the House dissolution case is subjudice at the Supreme Court. &nbsp;In his budget, he presented his spending plan that is designed to appease and influence voters, say opposition leaders and experts. &nbsp;<br />
Baburam Bhattarai, a former Prime Minister and Chairman of Janata Samajwadi Party, is one among them. Bhattarai, who is also a former Finance Minister, came down heavily on the government for introducing the populist budget. In his tweet post, Former Prime Minister Bhattarai said that the Finance Minister read out the &lsquo;election manifesto&rsquo; of ruling CPN (UML) as a budget speech that promises to distribute &lsquo;lollipops&rsquo; to innocent voters.&nbsp;<br />
Dissolving the House of Representatives on May 21, the government has announced the mid-term elections for November 12 and 13. &nbsp;<br />
All types of social security allowances have been raised by 33 percent. As announced by Prime Minister Oli recently, Finance Minister Paudel increased the monthly allowance to senior citizens by Rs 1,000 to Rs 4,000.<br />
From a scheme to offer loans to college and university students for the purchase of laptops at one percent interest to a plan of free medical treatment to journalists, the budget incorporates various populist programmes. &nbsp;<br />
&ldquo;On the one hand, Finance Minister Paudel has announced setting up of the Pay Commission for the longer-term pay and perks reforms, and on the other, he has also raised the salary by Rs 2,000 per month for government employees,&rdquo; Krishna Gyawali, a former government secretary, told New Business Age. &ldquo;This short-term staff incentive measure is appeasingly illogical and highly unconvincing, which only justifies the allegations that, though cautiously guarded, it is still a populist and election-oriented budget,&rdquo; said Gyawali, who had also worked as a joint secretary in the Ministry of Finance. &nbsp;&nbsp;<br />
However, the Finance Minister decided to scrap the Local Infrastructure Development Programme. The programme, commonly known as Constituency Development Fund, was drawing criticism for giving funds directly to lawmakers to be invested in their constituencies with little or no transparency and oversight on spending. The termination of the programme also comes in the wake of dissolution of the House of Representatives and announcement of mid-term elections. Despite calls to discontinue such pork barrel funding, the government, in the current fiscal year, had allocated a total of Rs 6.6 billion for the programme to distribute Rs 40 million to each lawmaker to spend money in their constituencies.<br />
There are concerns not only in the process of introducing the budget with no parliamentary scrutiny, but also in the government&rsquo;s capacity to implement it.</p>

<p>&ldquo;The government will face immense political and systemic challenges to implement this budget not only because there is no robust institutional departure with regard to resetting the rules and routes of implementation but also because this budget is devoid of &lsquo;political legitimacy&rsquo;. The budget suffers from a likely lack of needed political support for creating a conducive implementation climate on the ground,&rdquo; said Gyawali.<br />
&nbsp;<br />
<strong>&nbsp;Job Creation Targets</strong><br />
Creation of employment opportunities also seemed to be a priority in the budget. As thousands of workers have either lost their jobs due to the pandemic, the government plans to generate 200,000 jobs in the upcoming fiscal year through the Prime Minister Employment Programme with a plan to spend Rs 12 billion.<br />
He also said that the government will provide skill training to 100,000 youths who have lost their jobs or returned from foreign employment. For the training on handicraft, plumbing, carpentry, vehicle and mobile repairing, beautician, Finance Minister announced a spending of Rs 400 million. &nbsp;<br />
In the budget, the government also expects 350,000 jobs creation from its partnership with the private sector. It has also set a target of creating 12,000 new jobs from its Youth Self Employment Fund. &nbsp;&nbsp;<br />
&nbsp;</p>
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			'id' => '13473',
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			'title' => 'Budget for FY2021/22 presented in Three Charts ',
			'sub_title' => '',
			'summary' => 'These three graphs sum up the the figures presented in the budget for upcoming fiscal year',
			'content' => '<p>May 30:&nbsp;<br />
Minister for Finance Bishnu Prasad Paudel on Saturday unveiled the budget of Rs 1,647.57 billion for upcoming fiscal year (2021/22) through an ordinance. These three charts sum up the&nbsp;key figures presented in the budget:&nbsp;<br />
&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Expenditures_Budget.jpg" style="height:320px; width:600px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Income%20Projections_Budget_.jpg" style="height:319px; width:617px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Sector%20Wise%20Spending.JPG" style="height:363px; width:617px" /></p>
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			'id' => '13472',
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			'title' => 'Stakeholders' Reaction to Budget',
			'sub_title' => '',
			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
			'sub_title' => '',
			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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		'Article' => array(
			'id' => '13470',
			'article_category_id' => '1',
			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13468',
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			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13465',
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			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
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			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'id' => '13464',
			'article_category_id' => '1',
			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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		'Article' => array(
			'id' => '13478',
			'article_category_id' => '1',
			'title' => 'Farmers Cry Foul Over ‘No Budget’ for Poultry Farming and Floriculture ',
			'sub_title' => '',
			'summary' => 'May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 31: Farmers have complained that poultry and floriculture business have not been included in the budget of Fiscal Year 2078/79. They complained that budget presented by finance minister on Saturday did not address the concerns of both of these sectors.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The farmers argued that an agricultural country like Nepal with more than 65 percent farmers cannot become self-reliant in agriculture if the government allocates only 2.78 percent of the total budget to the agriculture and livestock sector. Likewise, the farmers are frustrated that the poultry and floriculture business, which has provided employment to millions of people in the country, has not been included in the budget.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">General Secretary of the Nepal Poultry Federation Dinesh Raj Mishra lamented that poultry sector was not mentioned in the budget. The contribution of poultry sector to Nepal&lsquo;s GDP is Rs 180 billion. He said that the government has completely ignored the poultry industry which has a huge contribution to the overall economy of the country.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, florists have also expressed concern that the budget does not include them. Kumar Kasaju Shrestha, president of the Floriculture Association of Nepal, said that the government has ignored the floriculture business that has an investment of Rs 6.5 billion in the country. He said that they had hoped the government would address their concerns through the budget at a time when their business was in crisis due to the lockdown. However, the budget did not cover all the sectors of agriculture. He said this has disappointed all farmers and businessmen.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The overall floriculture business is losing Rs 10 million daily due to the lockdown. The business, spread across 43 districts, has provided employment to more than 40,000 people directly and indirectly. A large part of this business is connected with various gatherings, weddings, and banquets, programmes and tourism sector and as these sectors are largely affected, the floriculture business is in crisis and has also halted production due to coronavirus.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13477',
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			'title' => 'Hydro Power Producers Resent Government’s Failure to Provide Subsidy on VAT despite its Declaration ',
			'sub_title' => '',
			'summary' => 'May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 31: The government has remained silent on the issue of giving VAT exemption and subsidies to the promoters of hydro power projects. The government has not allocated any amount in this regard in the budget for the upcoming fiscal year which was announced on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In 2015, the government had announced to provide Rs 5 million grant on VAT per megawatt to the promoter companies of power projects to be completed within a decade by issuing a concept paper on National Energy Crisis Mitigation and Power Development Decade. In addition, it was said that the projects completed by 2015 would also receive the grant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has already unveiled five budgets after announcing the grant. However, the promoters say that none of the budgets has addressed the issue.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya said that it was unfortunate that the grant was not implemented even after the announcement.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The government has already decided to subsidize VAT for power projects. The required amount has to be allocated through the budget. However, even after 5-6 years, this issue has not found a place in the budget. We will not remain silent in this regard. We will continue our initiative for this,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson for the Ministry of Energy Madhu Prasad Bhetwal said that the Ministry of Finance is the body to take a necessary decision in this regard. &ldquo;At that time, we had offered a grant of Rs 10 million. The finance ministry reduced it to Rs 5 million,&rdquo; he said, adding, &ldquo;We have not been able to understand why the implementation has been delayed.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Secretary at the Ministry of Finance Shishir Kumar Dhungana also admitted that the budget could not address the issue. He said that this time the issue could not be addressed because it did not fall in priority list and there were other pressing issues.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The coronavirus pandemic and its impact grabbed our attention while preparing budget. Therefore, this issue could not be addressed in the current budget,&rdquo; he said, &ldquo;However, it is an issue that the government has already decided. We will make necessary arrangements and implement them.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced such a concessional package to private sector promoters in 2015 intending to encourage power generation during the time of load-shedding. The government had made public a 99-point concept paper on energy crisis mitigation. However, the failure to implement it has discouraged energy producers of the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government had announced a grant of Rs 5 million per megawatt to the promoter companies of the project to be completed by 2026. They also said that a grant of Rs 5.5 million per megawatt would be given if the construction is completed by 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Many projects have been completed even after the government announced the exemption. However, IPPAN chairman Acharya said that they have not received the facility announced by the government. He stressed the need to implement the government&#39;s declaration as soon as possible.</span></span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>
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			'id' => '13476',
			'article_category_id' => '1',
			'title' => 'Humla to be Linked to National Highway',
			'sub_title' => '',
			'summary' => 'May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 31: Simikot, the district headquarters of Humla is finally being linked to the national highway. This will happen in the coming fiscal year, according to the budget estimates presented by Finance Minister Bishnu Prasad Paudel on Saturday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Of the 77 district headquarters of the country, only Simikot is yet to be linked to the national highway. The pledge to change this reality features in every fiscal year budget though it has not yet been realized.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The budget estimates also includes construction of a trekking route in Simikot as well as in the lower Dolpa area. Likewise, construction of a dry port will begin in Yari of Namkha rural municipality.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has also allocated budget for construction of an access road in Hilsa region. The budget also features funds to be allocated for operation of maternity and neonatal care service in the district hospital. -- RSS&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;"><img alt="" src="/app/webroot/userfiles/images/20181226034129_IMG_8456.JPG" style="height:533px; width:800px" /></span></span></span></p>
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			'id' => '13475',
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			'title' => 'Budget for Agriculture up by Rs 3.69 Billion',
			'sub_title' => '',
			'summary' => 'May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22).',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Manisha Balami</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has allocated Rs 45.09 billion for the agriculture sector for the upcoming fiscal year (FY 2021/22), which is Rs 3.69 billion more than the budget allocated for the current fiscal year. The government had allocated Rs 41.40 billion for the agriculture sector for the current fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year on Saturday, Finance Minister Bishnu Poudel said that the agriculture sector would be developed as the main basis of a prosperous economy. For this, the government plans to modernise and commercialise the agriculture sector. He said that the Prime Minister&rsquo;s Agriculture Modernisation Project will be made more effective and an additional 71 zones to promote agriculture, fisheries and livestock production would be brought into operation.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Tax exemption will be given for the imports of agricultural tools, equipment and spare parts. Likewise, the government has given continuity to 50 percent subsidy in farm insurance premium.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Grants will be provided to the local level for purchasing agricultural equipment such as combine harvester, power teller, cultivator, rotavator, and harrow in the pocket areas. Minister Poudel announced that in order to provide technical assistance to the farmers in the project area, 300 students studying at the undergraduate level in agriculture will be assigned as interns.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel, Rs 7.60 billion has been allocated for providing concessional loan to the farmers. The government has also made an arrangement to provide subsidy of up to 50 percent to the farmers who purchase improved seeds from licensed sellers. Moreover, five million fruit seedlings will be produced by establishing medium and high-technology multi-purpose nursery. In addition, 50 percent subsidy will be provided for purchasing plants to promote apple farming in Manang, Mustang, Jumla and other Himalayan districts.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Minister Poudel said that sugarcane farmers will &nbsp;now onward get their subsidy within 15 days of sale of sugarcane to sugar mills. He informed that Rs 840 million has been allocated for this purpose.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The existing agricultural subsidy system will be reviewed and production-based incentive grants will be provided to the farmers, agri-entrepreneurs, farmers&rsquo; group and cooperatives.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has planned to provide the unused government farms and barren lands to the private sector on lease for commercial farming. Poudel informed that the budget has been allocated to encourage the private sector for commercial animal husbandry in Manang, Mustang, Myagdi, Dolpa and other districts of Himalayan region and floriculture in districts like Bhojpur, Nuwakot, and Baitadi.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai%281%29.jpg" style="height:480px; width:531px" /></span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Announcing the budget, Minister Poudel said that adequate supply of chemical fertilisers would be ensured prior to the time of plantation. He informed that the budget has been allocated to set up a chemical fertiliser plant within three years. Rs 12 billion will be allocated for the establishment of a chemical fertiliser plant in the country.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The government has made arrangements to buy agricultural products of farmers in order to encourage them for farming and make the supply management easy and regular. He said that 200 food storage centers and 89 cold storages will be established throughout the local levels.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Budget has been allocated for irrigation so that the irrigation facility is easily available to the farmers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/20210106123441_20201105020829_cover%281%29.jpg" style="height:517px; width:800px" /></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Announces Wide Range of Tax Incentives in Budget ',
			'sub_title' => '',
			'summary' => 'May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 30: The government has announced a wide range of tax incentives and tax rebates in the budget presented for the fiscal year 2021-22.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is providing 90 percent of income tax waiver to the taxpayers with an annual turnover of two million rupees. In the current fiscal year, the government is providing 75% of income tax waiver to the small cottage industries.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the upcoming fiscal year, taxpayers with an annual income of Rs two to five million will get tax waiver of 75 percent and taxpayers with annual income of Rs 5 million to Rs 10 million will get tax waiver of 50 percent.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government has announced that it will not charge additional fees against taxpayers paying tax within the stipulated time. Taxpayers are required to pay tax within mid-June and interest applicable to it by mid-Jan, 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government is waiving off VAT on the purchase of diesel and LP gas used for business enterprises. Similarly, people have been provided with tax and excise duty exemption on the production and distribution of oxygen gas, liquid oxygen, oxygen cylinder, oxygen concentrator, medicines and import of medicines.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Excise duty applied on import of electric vehicles has been removed and customs duty has also been significantly reduced. Customs duty of induction cooker has been reduced to one percent and customs and excise duties have been reduced on refrigerator, grinder, rice cooker, fan among others.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Customers will get an immediate refund of 10 percent VAT on the items purchased through the payment of electronic gateways like debit, credit cards, QR code and scan and pay.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">With an aim to protect the domestic industries, customs duty of raw material will be made one level cheaper than that of the ready-made goods. Similarly, customs duty waiver has been provided to the import of machines, equipment and parts being used by tea, jute, cinema, pashmina, and hatchery industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Startup business will be receiving 100 percent income tax waiver for the five years since the establishment of the business. If the private sector provides seed capital of Rs 100,000 the amount will not be taxable while calculating the tax amount.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile the government has increased excise duty on alcohol, beer, cigarettes and other tobacco items. The government has increased the capital gains tax on short-term capital market investors. Share investors selling shares before 365 days are applicable to pay 7.5 capital gains tax while long-term investors, selling shares after a year, will be subjected to 5 percent capital gains tax. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13471',
			'article_category_id' => '1',
			'title' => 'Spending on Battle Against Covid Important, So Is Wooing Voters—FM’s Rs 1.65 Trillion Budget Message',
			'sub_title' => '',
			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.',
			'content' => '<p>Sagar Ghimire<br />
Kathmandu, May 30:<br />
Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion.<br />
The budget&mdash;introduced in the form of ordinance in the absence of the parliament&mdash;ramps up spending on healthcare, plans to finance vaccination, raises social security allowances for the elderly people and salary to government employees and gives continuity to the funding of ongoing major development programs and projects.<br />
This is the fourth budget of the current KP Oli-led government that rose to power in February 2018 after an electoral alliance of his party CPN (UML) and CPN (Maoist-Center) swept parliamentary elections in December 2017. The previous three budgets were delivered by former Finance Minister Yuba Raj Khatiwada.</p>

<p><strong>Focus on fight against Covid-19</strong><br />
As Covid second wave rages, Finance Minister Paudel announced a spending of Rs 37.53 billion to combat the pandemic. This is in addition to Rs 122.78 billion earmarked to the Ministry of Health and Population for the health-related spending.<br />
He said that the government will expand free test and treatment from government-owned hospitals and labs, 50 percent capital subsidy for private hospitals to install oxygen plants, procurement of ICU, HDU, ventilators and test kits among other medical equipment for the treatment of Covid-19 patients. While continuing the risk allowance for frontline staff, Finance Minister Paudel also announced the government plan to mobilize retired or interning doctors, nurses and health workers with 50 percent risk allowance and full salary in one year contract. &nbsp;<br />
To provide Covid-19 jabs to the people at free of cost, Finance Minister Paudel allocated Rs 26.75 billion for the vaccination. &nbsp;<br />
The budget delivered by the Finance Minister Paudel amid devastating second wave of coronavirus and closure of economy due to prohibitory orders imposed in many parts of the country also includes some relief measures to&nbsp;the private sector as well as general public and put the economy on the track of recovery.<br />
In addition to giving continuity to &lsquo;Business Continuity Loan Scheme&rsquo; and pledging to expand the sectors and fund under the central bank-administered refinancing facility, Finance Minister Paudel also announced a raft of tax rebates and waivers for businesses and firms.<br />
The government set a target to achieve 6.5 percent of economic growth in the upcoming fiscal year.<br />
&nbsp;<br />
<strong>&lsquo;Populist and Distributive&rsquo; Budget</strong><br />
Finance Minister Paudel shrugged off widespread pressure to not introduce the full-fledged budget through ordinance when the House dissolution case is subjudice at the Supreme Court. &nbsp;In his budget, he presented his spending plan that is designed to appease and influence voters, say opposition leaders and experts. &nbsp;<br />
Baburam Bhattarai, a former Prime Minister and Chairman of Janata Samajwadi Party, is one among them. Bhattarai, who is also a former Finance Minister, came down heavily on the government for introducing the populist budget. In his tweet post, Former Prime Minister Bhattarai said that the Finance Minister read out the &lsquo;election manifesto&rsquo; of ruling CPN (UML) as a budget speech that promises to distribute &lsquo;lollipops&rsquo; to innocent voters.&nbsp;<br />
Dissolving the House of Representatives on May 21, the government has announced the mid-term elections for November 12 and 13. &nbsp;<br />
All types of social security allowances have been raised by 33 percent. As announced by Prime Minister Oli recently, Finance Minister Paudel increased the monthly allowance to senior citizens by Rs 1,000 to Rs 4,000.<br />
From a scheme to offer loans to college and university students for the purchase of laptops at one percent interest to a plan of free medical treatment to journalists, the budget incorporates various populist programmes. &nbsp;<br />
&ldquo;On the one hand, Finance Minister Paudel has announced setting up of the Pay Commission for the longer-term pay and perks reforms, and on the other, he has also raised the salary by Rs 2,000 per month for government employees,&rdquo; Krishna Gyawali, a former government secretary, told New Business Age. &ldquo;This short-term staff incentive measure is appeasingly illogical and highly unconvincing, which only justifies the allegations that, though cautiously guarded, it is still a populist and election-oriented budget,&rdquo; said Gyawali, who had also worked as a joint secretary in the Ministry of Finance. &nbsp;&nbsp;<br />
However, the Finance Minister decided to scrap the Local Infrastructure Development Programme. The programme, commonly known as Constituency Development Fund, was drawing criticism for giving funds directly to lawmakers to be invested in their constituencies with little or no transparency and oversight on spending. The termination of the programme also comes in the wake of dissolution of the House of Representatives and announcement of mid-term elections. Despite calls to discontinue such pork barrel funding, the government, in the current fiscal year, had allocated a total of Rs 6.6 billion for the programme to distribute Rs 40 million to each lawmaker to spend money in their constituencies.<br />
There are concerns not only in the process of introducing the budget with no parliamentary scrutiny, but also in the government&rsquo;s capacity to implement it.</p>

<p>&ldquo;The government will face immense political and systemic challenges to implement this budget not only because there is no robust institutional departure with regard to resetting the rules and routes of implementation but also because this budget is devoid of &lsquo;political legitimacy&rsquo;. The budget suffers from a likely lack of needed political support for creating a conducive implementation climate on the ground,&rdquo; said Gyawali.<br />
&nbsp;<br />
<strong>&nbsp;Job Creation Targets</strong><br />
Creation of employment opportunities also seemed to be a priority in the budget. As thousands of workers have either lost their jobs due to the pandemic, the government plans to generate 200,000 jobs in the upcoming fiscal year through the Prime Minister Employment Programme with a plan to spend Rs 12 billion.<br />
He also said that the government will provide skill training to 100,000 youths who have lost their jobs or returned from foreign employment. For the training on handicraft, plumbing, carpentry, vehicle and mobile repairing, beautician, Finance Minister announced a spending of Rs 400 million. &nbsp;<br />
In the budget, the government also expects 350,000 jobs creation from its partnership with the private sector. It has also set a target of creating 12,000 new jobs from its Youth Self Employment Fund. &nbsp;&nbsp;<br />
&nbsp;</p>
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			'id' => '13473',
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			'title' => 'Budget for FY2021/22 presented in Three Charts ',
			'sub_title' => '',
			'summary' => 'These three graphs sum up the the figures presented in the budget for upcoming fiscal year',
			'content' => '<p>May 30:&nbsp;<br />
Minister for Finance Bishnu Prasad Paudel on Saturday unveiled the budget of Rs 1,647.57 billion for upcoming fiscal year (2021/22) through an ordinance. These three charts sum up the&nbsp;key figures presented in the budget:&nbsp;<br />
&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Expenditures_Budget.jpg" style="height:320px; width:600px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Income%20Projections_Budget_.jpg" style="height:319px; width:617px" /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><img alt="" src="/app/webroot/userfiles/images/Sector%20Wise%20Spending.JPG" style="height:363px; width:617px" /></p>
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			'title' => 'Stakeholders' Reaction to Budget',
			'sub_title' => '',
			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_date' => '2021-05-30 12:39:28',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13469',
			'article_category_id' => '1',
			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
			'sub_title' => '',
			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'sortorder' => '13215',
			'image' => '20210529084950_Ros.jpg',
			'article_date' => '2021-05-29 19:00:37',
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		'Article' => array(
			'id' => '13470',
			'article_category_id' => '1',
			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '13214',
			'image' => '20210529072134_NTC-launches-4G-in-Rara-Lake.jpg',
			'article_date' => '2021-05-29 19:20:46',
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		'Article' => array(
			'id' => '13468',
			'article_category_id' => '1',
			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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			'sortorder' => '13213',
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			'article_date' => '2021-05-29 18:44:52',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '13212',
			'image' => '20210529062517_The-old-age-allowance.jpg',
			'article_date' => '2021-05-29 18:24:32',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '13465',
			'article_category_id' => '1',
			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
			'sub_title' => '',
			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'title' => 'Three Ordinances Related to Budget Issued ',
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			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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