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NEWS & CURRENT AFFAIRS

The Nairobian

Githae presents Kenya’s Sh1.45 trillion budget

Business

By By Standard Digital Reporter | Jun 14, 2012

By Standard Digital Reporter

Finance Minister Njeru Githae on Thursday read Kenya’s record Sh 1.45 trillion budget.

Githae announced various measured undertaken by the Government to boost economic growth and employment among various sectors of the economy.

The Government will employ 10,000 more teachers and additional 900 doctors in increased spending in the education and health sectors in the 2012-2013 fiancial year.

Infrasturcure spending attacted increased funds with a total allocation of Sh 268 billion as the Government made good its plan to complete the railway line linking the JKIA and the City centre to ease commuter services.

Keep Reading business

Second hand clothes dealers had reason to rejoice following an announcement that Kenya Revenue Authority will reduce charges on the commodities’ import duty.

Githae said he had directed KRA to revert to the lower charge per container of imported second hand clothes.

The minister noted that the increase in the charges had led to many mitumba traders, mostly the youth to close businesses leading to unemployment.

The Finance Minister also announced that the Government will deal with unscrupulous metal dealers who have fuelled vandalism on railway lines and increased theft of roadsigns.

He said he had recommended introduction of laws to streamline the scrap metal business and anyone found breaking the law will be liable to a Sh 1 million fine.

At the same time, Githae noted that alcoholism had affected the youth and allocated Sh 1 billion to National Agency for the Campaign Against Drug Abuse (Nacada) for enforcement of Alcoholic Drinks Control Act commonly known as Mututho Laws.

The Minister also announced an increase in Youth Enterprise Development Fund and Women Enterprise Fund to boost self employment.