Kathmandu, May 29 : The government has brought a budget of Rs. 1,647.57 billion for the coming Fiscal Year 2078/79. Finance Minister Bishnu Poudel on Saturday presented an estimate of Rs 1.647 trillion.

Separate grant amount from current expenditure

In the past, the government has allocated the amount going to the local and state from the union this year. As a result, the current budget has been reduced.

In the past, the government has allocated the amount going to the local and state from the union this year. As a result, the current budget has been reduced.

The government has allocated Rs. 678.61 billion for the current fiscal year. If the amount of current expenditure seems to be less, the amount going to the provincial and local government should not be added to it.

In the coming Fiscal Year, capital expenditure of Rs. 347.26 billion is expected. Rs. 207.97 billion has been allocated for financial management. The lower level grant is Rs. 386.71 billion.

Revenue target increase

The government has also increased the target of revenue collection in the coming fiscal year. The government has set a target of collecting Rs 1.024 trillion in revenue in the coming fiscal year. This year, the target is to receive Rs.63 billion from foreign grants. A loan of Rs. 309.29 billion will be taken from foreign development partners.

Finance Minister Bishnu Poudel informed that Rs. 250 billion will be borrowed from that amount. The government has set a target of collecting Rs. 889.62 billion from the revenue in the current fiscal year.

For the first time since the new constitution was drafted, the government has brought a budget through an ordinance. The government, which has dissolved parliament and called mid-term elections, has made maximum efforts to popularize the budget.

This includes everything from increasing the old age allowance to increasing the salary of the government employees. The government has allocated significant budget in the health sector while minimizing the impact of the Coronavirus epidemic on the economy, while the largest amount has been allocated in the education sector also.