Government Allocates Rs.1.86 Trillion Budget for Upcoming Fiscal Year

May 29, 2024 | Investopaper

For the upcoming fiscal year 2081/82, the government has allocated a budget of Rs. 1.860 trillion. This budget includes Rs. 1.140 trillion (61.31 percent) for current expenditures, Rs. 352 billion for capital expenditures, and Rs. 367 billion for financial management.

The new budget is approximately 6.2 percent higher than the initial allocation for the current fiscal year and 21 percent more than the revised estimates.

In the current fiscal year, the government had initially set a budget of Rs. 1.751 trillion. However, this amount was reduced by Rs. 221 billion through a mid-year review.

According to Finance Minister Pun, Rs. 1.260 trillion will be raised from revenue, and Rs. 52.33 billion from foreign aid. To cover the remaining deficit of Rs. 547.67 billion, the government plans to secure Rs. 217.67 billion from foreign loans and Rs. 330 billion from domestic borrowing.