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Tuesday, 26 December 2017

Power News: Budget Preparation

Posted by Anup Baral | December 26, 2017 :
Finance Secretary Shankar Adhikari on Tuesday said that the size of the budget of the next fiscal year 2018/19 could go up to Rs. 1570 billion. Although the country needs huge resources to manage federalism for a year or two as there is a need to develop infrastructure for the provinces as well as the local bodies, there is no dearth of resources to implement federalism, he said while speaking at an interaction on ‘Fiscal challenges under federalism’. He pointed at the possibility of revenue growth by 30 per cent next year. The size of the revenue this year is Rs. 730 billion, and 30 per cent growth means about Rs. 950 billion revenue collection. “Similarly, foreign grants could be increased to Rs. 100 billion, which is Rs. 72 billion this fiscal, and foreign loans could fetch Rs. 300 billion in the next fiscal year from Rs. 214 billion this year. Principal payment will be Rs. 20 billion, and cash reserve from the current fiscal year will be about Rs. 20 billion,” he said. He also maintained that federalism would not be burdensome for the country as the administrative cost was likely to go down as the number of spending units would go down. Adhikari said that the cost centres would be reduced to 2,000 from 3,500. However, he said that the country needed to attract huge amounts of Foreign Direct Investment (FDI) in order to meet the resource gap in the country, and the country must apply a ‘need-based approach’ while selecting a project and allocating budget to it at the sub-national levels.

Guide of the month: January 2018

Traveling gives us the opportunity to disconnect from our regular life. You get to forget your problems/issues for a few weeks, it can also help you figure things out that you would not have understood without the distance traveling can give you. We all have crazy schedules, work and a family to take care of, going away alone or with some friends can give you distance and perhaps even make you realize how important these people are for you. Like the saying says: we never know what we have until we lose it.

Another great benefit is the relaxation you get to do. It’s nice to live life to its fullest and enjoy a stress free time with yourself. Going on vacation lets us recharge our “batteries” by disconnecting us from our regular life. When we come back we feel invigorated and we are happy to be back in our day to day routine. It’s a very good stress remover that has a lot more to give than most people are willing to accept.

Traveling increases our knowledge and widens our perspective. To view new customs, different ways of living is fantastic for the mind. It gives us a new perspective about life and especially our life, it can help us change some of our habits or even create new ones. When I travel I usually make it a point to try new food, some cultures don’t have fries in their diet and they are all skinny, others use spices to give taste and not oils or fats. Discovering different values and ways to get by in life is really interesting. You also need to visit exotic new places and discover what this wonderful world has to offer.