Finance Minister Presented Over 17.5 Billion Budget For Fiscal Year 2080/081

Finance Minister Presented Over 17.5 Billion Budget For Fiscal Year 2080/081

May 29, 2023, 8:38 p.m.

Finance Minister Dr Prakasharan Mahat has allocated a budget of 17 trillion 51 billion rupees for the next financial year 2080/081.

Finance Minister Dr. Prakasharan Mahat has allocated a budget of 17 trillion 51 billion rupees for the next financial year 2080/081 while presenting the budget for the next financial year.

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He said that out of the total allocation, 11 trillion 41 billion 78 billion i.e. 65.20 percent, 3 trillion 2 billion 7 billion i.e. 17.25 percent for capital and 3 trillion 7 billion 45 billion i.e. 17.55 percent for financial system have been allocated.

He said that the expenditure estimate is 2.37 percent lower than the current fiscal year's allocation and 16.37 percent higher than the revised estimate. He said that in the total allocation, there is an allocation of 4 trillion 80 million towards financial transfer to the provincial and local levels.

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He said that 12 trillion 48 billion 62 crores from revenue and 49 billion 94 crores from foreign grants will be less than 4 trillion 52 billion 75 crores from the sources of expenditure estimated for the next financial year. He said that 2 trillion 12 billion 75 crores will be collected from foreign loans to meet the shortfall and net 2 trillion 40 billions that will not be reached through revenue mobilization and foreign aid mobilization will be covered by domestic debt.

Finance Minister Mahat said the then Finance Minister Janardan Sharma submitted a budget of 17 trillion 93 billion 83 crore rupees for the current financial year. Out of which, 42 percent is for running, i.e. 7 trillion 53 billion 40 million rupees, 21.2 percent for capital, i.e. 3 trillion 80 billion 38 million rupees, and 12.8 percent for financial management, i.e. 2 trillion 30 billion 22 million rupees, and 24 percent for financial transfer to state and local levels. That is, it was 4 trillion 29 billion 83 million rupees.

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