Kathmandu, July 12:

Nepal Government today allocated Rs 203 million budget in Youth, Sports and Culture for the fiscal year 2007/08, an increase of Rs 33 million to that of the last year.

The allocation of the budget to the sports sector was 0.12 per cent of the total budget presented by Finance Minister Ram Sharan Mahat. Education and Sports ministry was allocated 16.80 per cent of the overall budget of Rs 168.99 billion. The government had allocated Rs 170 million in the last fiscal year. The government also announced to invest more in three prioritised disciplines — cricket, teakwondo and football. The government also announced to exempt taxes for private companies that extend more than Rs one million in sponsorship.