Sunday December 17, 2017
Home World Nepal announc...

Nepal announces its annual budget

0
67

Kathmandu: The Nepalese government unveiled the annual budget for the 2015-2016 fiscal year on Tuesday with a total amount of 819.468 billion Nepalese rupees (about $8.11 billion) focusing on the reconstruction of thousands of earthquake-damaged infrastructures.

The annual budget was announced by Nepal’s Finance Minister Ramsharan Mahat in parliament in the presence of Prime Minister Sushil Koirala, leaders from major political parties and high-ranking officials, Xinhua reported.

Ram_Sharan_Mahat_20140806084608
Image Source: www.ekantipur.com

Mahat said that the government has given top priority to the reconstruction of damaged infrastructures including private and public buildings as well as rehabilitation of tens of thousands of earthquake – hit people.

According to the budget, the Nepalese government has allocated 74 billion Nepalese rupees (about $733 million) to the National Reconstruction Fund set up by the government.

Highlighting the need of reconstruction efforts to be carried out in the next five years, Mahat also said that the National Reconstruction Authority will get full shape as soon as possible.

The Nepalese government recently announced its plan to set up the National Reconstruction Authority under the leadership of the prime minister which will be mainly responsible for the country’s reconstruction and rehabilitation within next five years.

“We will not let people of earthquake-hit areas feel insufficiency of budget at all,”the finance minister said.

Nepal’s National Planning Commission has estimated that Nepal needs approximately $7 billion for the reconstruction.

“The government will leave no stone unturned to revive tourism in the nation,” the minister said.

Besides deployment of government employees in the reconstruction process, the government has planned to train as many as 50,000 youths for the same. “The heritage sites which were severely damaged and shattered by the earthquake will be restored,” he added.

Nepalese_Children

The Nepalese government unveiled the annual budget after the massive earthquakes hit the Himalayan nation on April 25 and May 12 which claimed around 9,000 lives and leaving another 22,000 injured.

In addition to the country’s reconstruction, the Nepalese government has allocated budget in the areas of agriculture, education, health, tourism, infrastructure development, connectivity and construction of hydro-power projects among others.

Breaking the previous trends, the Nepalese government has not increased perks and salaries of civil servants. According to the ministry of general administration, there are about 75,000 civil servants in Nepal at various government bodies. (IANS)

Next Story

‘Delhi Metro Cruelly Killed my ‘Achhe Din” : Here is why Passengers are dumping the popular mode of travel

The author shares her take on shifting to Delhi from Kolkata and her experience with the Delhi Metro

0
46
Delhi Metro
Delhi Metro. Wikimedia

– By Somrita Ghosh

New Delhi, November 5, 2017 : Delhi Metro cruelly killed my “acche din”.

Metro fares have been doubled in just four months, forcing me to give up my favorite mode of transport and take to crowded DTC buses.

Besides putting the new fares beyond my budget, I have also been stripped off the safety of travelling in the Metro. And I am not the only one.

My biggest shock came two days after the latest Metro fare hike. I commute daily between Green Park in south Delhi and Noida Sector 16 where I work.

As I punched my smart card while leaving the Sector 16 station, my heart skipped a beat — Rs 37 had been deducted from my card.

By the time I reached my office, the mental calculation was already done. I realized every month I would have to spend double of what I was shelling out only five months ago if I wanted to use the Delhi Metro.

When the year began, I was spending Rs 18 on my Metro ride — one way. The Metro then hiked the fares and my one-way cost shot up to Rs 27. The latest hike had taken it to Rs 37!

This was hard for me to digest. The sudden hike of almost Rs 20, that too one way, was surely going to painfully pinch my wallet.

When I landed in Delhi five years ago, my friends advised me to avail the Metro, not just because it is safe for women but comfortable too, never mind the crushing rush during peak hours.

Most important, as I realized very soon, the Metro was affordable. It was so cheap that while an auto-rickshaw would charge me a minimum of Rs 25 from my home to the nearest Metro station, the Metro charged me only Rs 18 all the way from south Delhi to Noida in Uttar Pradesh. This was too good to be true.

Since I came from Kolkata, where the minimum Metro fare was only Rs 4 and the maximum Rs 12, Delhi Metro initially seemed costly.

But I realized the full story in no time once I started using the Delhi Metro. The infrastructure, service and overall facilities provided by Delhi Metro were far better compared to Kolkata.

Delhi Metro offers free WiFi, its stations have coffee shops and the bigger ones even host fast food chains. Travel is hassle-free despite the odd technical snags that hit the Blue Line that I use.

But suddenly charging a salaried person like me Rs 40 more, or Rs 1,200 a month, just because the Metro needs to finance itself better is something I cannot appreciate.

Like numerous others, I have changed my mode of transport. It is now the DTC buses. The DTC’s frequency may not match the Metro’s and DTC rides can be bumpy too, not to talk of unending traffic jams. But do I have a choice?

(Editorial note : This article has been written by Somrita Ghosh of IANS. She can be contacted at somrita.g@ians.in)

Next Story

5 Apps Which Make Millennials Spend Money Wisely!

These finance apps may help the millennials in managing their expenses in a better way.

0
46
Millennials
Apps which can help Millennials save money

Millennials are leading their lives in the “tech age”, where they have their own set of generation problems. Inflation has been a common problem of all the generations, but Millennials altogether have a different approach to life. The young adults of today are much more carefree. Their expenses are not just limited to home, family and food. From going on regular vacations to spending money in hip restaurants, they want it all. Keeping all these factors in mind, it becomes necessary to set meager budgets for all the planned luxuries and at the same time increase your savings as well. This may sound difficult, but the digital era has made it easier. Below are five finance apps which would manage your expenses!

  1. Cash Envelopes! 

Keeping a strong will is tough if you always find money in your wallet. This is a world-wide problem. The solution for it is to decide your budget for various expenses and keep them inside envelopes. An excellent savings app, Mvelopes, has expertly executed this idea with the help of technology. This way, if anyone savings envelope gets vacant, you can either wait for it to refill or take money from other cash envelopes. These envelopes will get connected to maximum four bank accounts.

2. ‘Balance’ Your Way

An app called Balance is at the rescue of millennials. It helps to manage money effectively so that one can save a good amount. It has recommendations on habits of expenditures in the form of ‘recipes’. The app streamlines the documentation processes in investments; thus, making an individual aware of the risks linked to it.

3. Keep a track on money spent

Sometimes, we may just get reckless and spend our cash without keeping in mind the expenses. To control this behavior is of utmost importance. An app called Money View would help you maintain a record of all the payments you made. It also tracks the dates of your bill and never lets you miss a payment deadline.

Also ReadBe Job Ready in Lesser Time Now! Must Dos for Men

4. Sharing budget

Setting a good budget will better your spending habits. And, the Google Budget app helps you to understand better spending habits. It is quite like Mvelopes, except that it also facilitates sharing these budgets with close relatives. This app taps all types of payments, users are making from the connected account.

5. Tracking Your Overall Financial Position

Since Millennials grew up in the generation when technology witnessed a boom, they are expected to handle their bank accounts digitally without much panic or mulling.Mint app keeps track of your expenses, cash and income inflows. This leads to constant reminders in your mind about how much money you should or should not spend. An integrated amount of your savings also helps you in making better and bigger future decisions.

by Megha Acharya of NewsGram.

 

 

 

 

Next Story

Ancient Hindu Temple Changu Narayan in Nepal Possesses Historical Significance

Changu Narayan is a sacred Hindu temple in Nepal and was built in the memory of Lord Vishnu

0
120
Changu Narayan Temple is an ancient Hindu temple in Nepal. Source: Wikimedia Commons
  • Changu Narayan is considered to be the oldest temple in Nepal
  • It is based on a high hilltop know was Changu or Dolagiri
  • It is dedicated to Lord Vishnu and has an interesting tale behind it

New Delhi, July 14, 2017: The ancient Hindu temple Changu Narayan is situated on the top of a high hill well known as Changu or Dolagiri. The temple had a neighboring forest of champak tree and a small village called Changu and is situated in Bhaktapur District, Nepal.

The hill is about 7 miles or 12 km east of Kathmandu and a few miles north of Bhaktapur. This holy place “changu narayan Temple” is devoted to Lord Vishnu and held in admiration by the people of Hindu religion. Changu Narayan is believed to be the oldest temple in Nepal’s history. Bhaktapur king established kingdoms in Kashmir and kept it as Hindu kingdom.

ALSO READ: Hindu Temple Kamakhya questions the Dominant Religious Legacies against Menstrual Blood

“changu narayan Temple” has a very intriguing story behind its existence. In old times, a Gwala, a cow herder, was given a cow by a Brahmin whose name was Sudarshan. The cow was believed to produce milk in large quantities. The cow herder used to take the cow for grazing to Change, which was a Champak trees forest that time. The cow was always found under a particular tree’s shade while grazing. In the evening, when the Gwala started milking the cow at his house, he received only a negligible quantity of milk. This continued for a number of days. He was disappointed and told the Brahmin about the cow not giving enough quantity of milk. After seeing this incident with his eyes, Sudarshan agreed and they decided that they should examine the cow while her grazing activity was being undertaken.

Changu Narayan Temple, east side, with the griffin (stone sculpture) left at the entrance. Source: Wikimedia

Both of them hid behind the trees and observed the cow. They noticed that a small black boy who had come out of the tree started feeding himself with the milk. This infuriated the two men as they thought of the boy as a demon and the tree as its home.

So the champak tree was cut down by the Brahmin. While he was doing this, he saw human blood come out of the champak tree. Both Brahmin and Gwala presumed they had done a crime and started crying.

Lord Vishnu suddenly emerged and told the Gwala and Brahmin, the mistake was not theirs and began narrating the story of him committing a crime by unknowingly murdering Sudarshan’s father while forest hunting. Afterward, he was cursed and he wandered on his mouth, as ‘Garuda’ descending on the Changu hill where he survived on stolen milk. The cutting down of the tree by Brahmin beheaded Vishnu and freed him from his sins.

You Should Not Miss: Angkor Wat – world’s largest hindu temple in Cambodia

Following this incident, Brahmin and Gwala started worshiping that place and built a small temple of Lord Vishnu. That place has been considered sacred ever since. Even today, Sudarshan’s descendant is one of the priest of that temple and the Gwala’s descendants as conservators.

People belonging to Newar community reside in and around the area of Changu Narayan. Due to tourism development in this area, we can locate many hotels, souvenir shops, restaurants etc.

However, this holy temple “changu narayan” faces a lot of challenges and threats. The Manohara stream has witnessed rampant mining of sand and stones. The local administration has failed to cut down the mining activities. Due to these mining activities, the temple area has become prone to landslides. Because of overgrazing in the nearby forest, the chances of soil erosion and landslide have become very high.

– prepared by Harsimran Kaur of NewsGram. Twitter @Hkaur1025