On May 29, Minister of Finance Dr Yubaraj Kha­tiwada unveiled a budget of Rs 1.53 trillion for the fiscal 2019/2020. The budget, which exceeds the current fiscal’s value by Rs 217 billion, has been termed ‘populist’ by some financial ana­lysts while others have given it the tags of ‘over-ambitious’ and ‘unrealistic.’ Unveiling the fiscal budget in the federal parliament, Minister Khatiwada announced the government’s aim of achieving the ‘middle-income country’ status by 2030 while the economic growth rate for the coming year has been set at 8.5 percent, 1.5 percent more than the current year’s revised target. The targeted inflation is 6 percent.

 

 

What have become dearer?

 Normally, prices of certain luxury goods increase with the yearly budget and the coming fiscal is no exception. Here’s a list of what will cost you more, and by how much.

Petrol/Diesel (per liter)	Rs 1.5
Telephone connection rate	Rs 500
Casino royalty	30 percent
Local beer (per liter)	Rs 165
All Whisky/Vodka (per liter)	Rs 920- Rs 1,325
Imported Wine (per liter)	Rs 370- Rs 430
Domestic Wine (per liter)	Rs 135
Brandy (per liter)	Rs 165
Tobacco (per kg)	Rs 95
Chewing tobacco (per kg)	Rs 610
Cement (per ton)	Rs 220
Mobile Phones	2.5 percent
Cigarette (per carton)	Rs 495-Rs 2,715
Juice (per liter)	Rs 11
Pan masala (per kg)	Rs 610
Kurkure/Lays (per kilo)	Rs 17
Betel nut (per kilo)	Rs 225
Energy drinks (per liter)	Rs 30

 

 Highlights of the budget 2019/2020

• Rs 60 million for each MP to develop his constituency
• Elderly allowance increases by Rs 1,000, to Rs 3,000 a month
• Civil employees’ salaries raised by up to 20 pc
• Increased the tax threshold on individual income from Rs 350,000 to Rs 400,000
• Rs 130 billion for provincial and local levels
• Over Rs 43 billion allocated for drinking water and hygiene
• Rs 23.6 billion allocated for irrigation programs
• Rs 163 billion appropriated for Railway and Waterways
• Rs 400 million appropriated for ‘improvement’ of Bir Hospital