KATHMANDU, MAY 29
The government has placed high priority on the revival of the agriculture sector in the budget for the upcoming fiscal year 2083/84.
Presenting the budget at a joint session of the Federal Parliament today, Finance Minister Dr Swarnim Wagle announced an increase in allocation for chemical fertiliser purchase to Rs 32.36 billion.
The budget also proposes electricity subsidies for the private sector to promote green urea fertiliser production.
A total of Rs 2.4 billion has been allocated to control livestock diseases, including foot-and-mouth disease.
Overall, Rs 46.92 billion has been earmarked for agriculture and livestock development, the Finance Minister said.
The budget further proposes providing up to 40 percent subsidy to farmers, along with annual subsidy support at a 10 percent rate, with enhanced monitoring to ensure proper utilisation of agricultural subsidies.
Agricultural development will be promoted through agricultural research and development centres, while the agricultural statistics system will be brought under the National Statistics Office, according to the budget statement.