By IANS,
Tehran: Iranian President Mahmoud Ahmadinejad Sunday presented a 1,769-trillion-rial ($180 billion) budget for the 2011-12 fiscal starting March 21.
He submitted the budget Bill at the opening session of the Majlis, the Iranian parliament, IRNA reported.
The budget for the fiscal encompasses measures that give Ahmadinejad the mandate to promote his major economic plans, Press TV reported Sunday.
The Iranian chief executive briefed the lawmakers on specific characteristics of the budget, saying it allocated over 475 trillion rials to development projects.
He added that the government welcomes Iranian parliament’s approval of an increase in the budget for the country’s development projects.
According to regulations, Majlis members and their respective committees will review the proposed budget within 10 and 15 days respectively.
The approved budget will be then sent to the country’s Guardian Council, whose approval is required for the bill to become a law.