Finance Minister Dr. Yubaraj Khatiwada has presented an annual budget of Rs. 1474 billion 640 million for the upcoming fiscal year FY 2077/78 (2020/21) in the joint session of the federal parliament today.
Of the total budget, Rs. 948 billion has been allocated for recurrent expenditure while Rs. 352 billion will be used for capital expenditure.
The government has estimated to mobilize revenue of Rs. 889 billion and get Rs. 60 billion as foreign grants and seek Rs. 298 billion external loan and take Rs. 225 billion internal loan to meet the annual expendtiure.
The annual budget has a deficit of Rs. 524 billion while the estimated revenue mobilization is less than the recurrent expenditure by Rs. 59 billion.