Posted November. 06, 2001 10:02,
The National Assembly approved the second revised supplementary budget of 1 trillion 644 billion won.
The approved budget, 240 billion won reduced from the original proposal of the government, is composed of 360.3 billion won for the subsidies for the agricultural investment projects, 300 billion won for the construction of streets, railroads, harbors, and airports, 280 billion won for the stabilization of rice price, 250 billion won for the support to aviation business in terms of terror, 60.7 billion for the prevention of terror.
The ruling and the opposition parties agreed to cut down 100 billion from the housing fund, 60 billion from the expansion of oil stock, 50 billion won from the small-medium business investment fund and development fund, 30 billion won from industrial infra fund.
The two parties were opposed to each other in terms of the amounts of reduction (200 billion of NMDP and 300 billion of GNP) but found a middle way at the Budget and Account Committee yesterday.
In addition, the ruling and opposition parties agreed to approve the budget of 112 trillion 580 billion won for next year at the general session of the National Assembly on Dec. 1, after having general questionings concerning the policies for 4-5 days, departmental survey for 6 days, and the readjustment of the amounts for a few days.
The National Assembly called 10 standing committees and created sub-committees of budget review to set for the review on the budget of next year.