KATHMANDU: Finance Minister Bishnu Prasad Paudel informed the Legislature-Parliament meeting about the principle and priorities of the appropriation bill of the fiscal year 2016/17, on Thursday.

Finance Minister Paudel said that the upcoming fiscal year would be celebrated as the year of economic reforms, while priority would be given to small and medium-scale industries, systematic production system and there would be speedy economic development through joint efforts of the government, private and cooperative sectors.

He said that environment, conducive to people's participation in development activities, would be promoted, emphasis would be given to establishment of equitable society quality education, modern health facilities, reliable supply system, post-reconstruction task and expansion of electricity transmission line.

Finance Minister further said that internal resources would be utilised and foreign aid would be mobilised on the basis of national priority. New Constitution would be implemented and remaining task of peace process completed, he added.

Discussion would be held over the proposal presented by Minister Paudel for two days at the parliament from Friday. The budget would be presented on May 28.

The next parliament meeting has been scheduled to be held at 11:00 am Friday.