KATHMANDU, June 26 -- The Kathmandu Metropolitan City (KMC) has proposed increasing the tax net in the new fiscal year 2019/20 rather than increasing the rates of taxation.

The metropolis unveiled a budget of Rs 15.5 billion for fiscal year 2019/20 on Tuesday through a municipal assembly with about 39 percent of the budget allocated for the development of infrastructures.

Presenting the proposed budget at the second session of the fifth municipal assembly held at Rastriya Sabha Griha (City Hall) in the capital on Tuesday, chair of the assembly and mayor of the KMC, Bidya Sundar Shakya, said, "The metropolis does not intend to increase the rate of any tax in fiscal year 2019/20. It has, instead, decided to increase the areas under taxati...