New Fiscal Year Begins: Budget Provisions Effective from Today

The new fiscal year 2082/83 has officially commenced from today, i.e., the 1st of Shrawan. The budget of NPR 1.964 trillion, presented by Deputy Prime Minister and Finance Minister Bishnu Poudel on Jestha 15, has come into effect starting today. The Ministry of Finance has already issued implementation guidelines and circulars to all ministries, departments, and government bodies.

According to the budget allocation, NPR 1.18 trillion is earmarked for recurrent expenditure, NPR 407 billion for capital expenditure, and NPR 375.24 billion for financial management. The sources of funding for this budget include NPR 1.315 trillion in revenue, NPR 53 billion in foreign grants, NPR 233 billion in foreign loans, and NPR 362 billion in domestic loans.

Additionally, all tax-related provisions announced in the budget have also come into force from today. Through this budget implementation, the government aims to achieve an economic growth rate of 6%.