Kathmandu, May 30 -- With an ambitious economic growth target but few tangible bases, Finance Minister Yubaraj Khatiwada presented the federal budget for the fiscal year 2019-20 in Parliament on Wednesday.

The Rs 1.53 trillion financial plan bets on achieving economic growth of 8.5 percent, more bullish than the current year's target, while generating half a million jobs by the next fiscal year, which begins in mid-July.

"Overall development is only possible through high economic growth and its equitable distribution," Finance Minister Khatiwada said while presenting the budget. "Our socialist goal is to fulfil the basic needs, such as employment, food security, basic health and education services, and clean drinking water, for all citi...