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Thu, June 13, 2024

Government unveils annual budget of Rs 1,793.83 billion

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KATHMANDU: The government has brought the new budget of Rs 1,793.83 billion for the fiscal year 2022/23. Releasing the annual budget at the meeting of the Federal Parliament on Sunday, Finance Minister Janardan Sharma said Rs 753.4 billion (42%) has been allocated for the recurrent expenditure and Rs 380.38 billion (21.2%) for the capital expenditure. Likewise, Rs 230.22 billion (12.8%) has been allocated for fiscal management as announced by the Finance Minister. A total of Rs 429.83 billion (24%) is arranged for fiscal grant handover to the provincial and local governments. According to the Finance Minister, Rs 1,240.11 billion will be collected from revenue collection while Rs 55.46 billion is projected to be received from foreign grant assistance. Likewise, Rs 242.26 billion will be collected from foreign loans and Rs 256 billion will be managed from the domestic debt. For the current fiscal year, the government had announced the budget of Rs 1647.57 billion. As Finance Minister Janardan Sharma tabled the budget for the coming fiscal year, Speaker Agni Prasad Sapkota fixed May 31, June 1 and 2 for the Minister to answer the questions raised about the budget in the Lower House of the Federal Parliament. The next meeting of the House of Representatives will be held on May 31 at 11:00 am.
Budget tabled in the National Assembly The budget estimates of revenue and expenditure for the fiscal year 2022/23 brought by the government have been tabled in the National Assembly. In the meeting of the National Assembly, Finance Minister Janardan Sharma tabled the budget for the coming fiscal year. Meanwhile, May 31 and June 1 have been fixed as the day to answer the questions raised during the discussion on the budget. The National Assembly will meet again at 11:00 am on May 31. READ ALSO:  
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