Size of new budget is Rs 1964.11 billion

Kathmandu, May 29: The government has announced the new budget of Rs 1964.11 billion for the fiscal year 2082/83 BS.

Unveiling the annual budget at the joint session of the Federal Parliament today, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel tabled the budget for the FY 2082/83 with the size of Rs 1964.11 billion.

“For the upcoming FY, Rs 1180.98 billion (60.1%) is allocated for recurrent expenditure while Rs 489 billion (20.8%) is allocated for capital expenditure, and Rs 375 billion (19.1%) is allocated for fiscal management,” Finance Minister Paudel stated while reading out the annual budget.

The size of the upcoming FY is higher than 5.6 per cent compared to the current fiscal year’s allocation and 18.2 per cent higher compared to the revised one.

Of the total allocation, Rs 417.83 billion is allocated for fiscal transfer for the provinces and local governments.
According to the Finance Minister, Rs 1315 billion would be managed for the revenue collection and Rs 53.45 billion from the foreign grants. Likewise, Rs 595.66 billion would be managed from loans including Rs 362 billion from internal loans and Rs 233.66 billion from foreign loans, Minister for Finance Paudel announced in the Federal Parliament meeting today.