Kathmandu: The government has unveiled a new budget of Rs 1964.11 billion for the fiscal year 2082/83 BS, as announced at the joint session of the Federal Parliament. Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel presented the budget, highlighting the financial allocations for various sectors in the upcoming fiscal year.
According to National News Agency Nepal, the budget allocates Rs 1180.98 billion, accounting for 60.1% of the total, for recurrent expenditure. Additionally, Rs 489 billion, or 20.8%, is set aside for capital expenditure, while Rs 375 billion, constituting 19.1%, is earmarked for fiscal management. The budget for the upcoming fiscal year is 5.6% higher than the current year’s allocation and shows an 18.2% increase compared to the revised budget.
Furthermore, Rs 417.83 billion is designated for fiscal transfer to the provinces and local governments. The Finance Minister detailed that Rs 1315 billion would be gathered from revenue collection and Rs 53.45 billion from foreign grants. Additionally, Rs 595.66 billion will be sourced from loans, which include Rs 362 billion from internal loans and Rs 233.66 billion from foreign loans, as announced in the Federal Parliament meeting.