Fin Min Mahat presenting budget for FY 2015/16

Finance Minister Ram Sharan Mahat is presenting the budget for the next fiscal year 2015/16 at the Parliament. The size of the annual budget is expected to fall between Rs 820 billion to Rs 825 billion.nnMinister Mahat said the government is likely to collect only 93 per cent of the revenue estimated for this fiscal year, due to the April 25 earthquake. He said the earthquake is likely to increase poverty in the nation. That, however, will be restricted to 25 per cent, he claimed.nnThe new budget aims to promote people’s trust in the government by prioritising relief, reconstruction and rehabilitation works in the aftermath of the devastating quake. “We will not let people of earthquake-hit region feel lack of budget,” he said.nnAs many as 50,000 youth will be trained to carry out reconstruction works, he announced. The government will organise an Investment Conference in the next fiscal year to promote foreign investment in the nation.nnSource: thehimalayantimes.com