Finance Minister Levi Eshkol presented to the Cabinet today a development budget calling for an expenditure of 192, 500, 000 pounds in the forth coming fiscal year.
Some 67, 000, 000 pounds has been set aside in the budget for agricultural development, including 32, 000, 000 pounds specifically for irrigation projects. This program calls for the settlement of 50, 000 new immigrants during the next fiscal year. Twelve million pounds has been allocated for the acquisition of sea-going vessels, 8, 000, 000 pounds for the national rail system, 17, 000, 000 pounds industrial development and 18, 500, 000 pounds for housing. Ten million pounds will be spent for the development of electric power.
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