Nepal Government unveils annual budget of Rs 1793.83 billion

Kathmandu, May 29
The government has brought the new budget of Rs1793.83 billion for the fiscal year 2022/023.

Releasing the annual budget in today’s meeting of the Federal Parliament, Finance Minister Janardan Sharma said Rs 753.4 billion (42%) has been allocated for the current expenditure and Rs380.38 billion (21.2%) for the capital expenditure. Likewise, Rs230.22 billion (12.8%) has been allocated for the fiscal management as announced by the Finance Minister. A total of Rs429.83 billion (24%) is arranged for fiscal grant handover to the provincial and local governments.

According to the Finance Minister, Rs1240.11 billion would be collected from revenue collection while Rs 55.46 billion is projected to be received from foreign grant assistance. Likewise, Rs242.26 billion would be collected from foreign loan and Rs256 billion would be managed from the domestic debt.

For the current fiscal year, the government had announced the budget of Rs1647.57 billion.

The annual budget of revenue and expenditure for the coming Fiscal Year 2022/2023 has been tabled at the House of Representatives today.

In the meeting of the House of Representatives, Finance Minister Janardan Sharma tabled the budget for the coming fiscal year. Speaker Agni Prasad Sapkota has fixed May 31, June 1 and 2 for the Minister to answer the questions raised about the budget in the lower house.The next meeting of the House of Representatives will be held on May 31 at 11 am. (RSS)