Government Allocates NPR 1.860 Trillion Budget for the Upcoming Year

Kathmandu: The government has allocated a total budget of NPR 1.860 trillion for the upcoming fiscal year. Out of the total allocation, NPR 1.14066 trillion has been designated for recurrent expenditure, which constitutes 61.31% of the total budget.

Additionally, NPR 352.35 billion has been allocated for capital expenditure, making up 18.94% of the total budget. The financial management sector has been allocated NPR 367.18 billion, accounting for 19.74% of the total budget.

This expenditure estimate is 6.2% higher than the current year's budget and 21.56% higher than the revised estimate. The increased budget allocation reflects the government's commitment to enhancing economic activities, infrastructure development, and public services.

The significant allocation for recurrent and capital expenditures indicates a focused approach towards sustaining ongoing projects and initiating new ones, aimed at boosting the overall economic growth and development of the country. The budget is expected to address critical areas such as education, health, infrastructure, and economic reforms.

This year, there are 4 trillion 8 billion 27 collective transfers at the provincial and local levels. 4 trillion 8 billion was transferred last year.

The target is to collect 12 trillion 60 billion 30 billion from road revenue through non-expenditure sources. This year, the group has set a target of 12 trillion 48 billion 62 billion revenue.

This is the goal of collecting loans from 3 billion to 30 billion. Varshman Pun informed that 2 trillion 17 billion 67 million will be collected from foreign loans and 52 billion 33 million from foreign grants.