Nepal announce annual budget of Rs. 1474 billion for the upcoming fiscal year 2020/21 - South Asia Time

Nepal announce annual budget of Rs. 1474 billion for the upcoming fiscal year 2020/21

 May 29, 2020  

Kathmandu —  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 on Thursday .

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 mobilise 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 mobilisation is less than the recurrent expenditure by Rs. 59 billion.

Of the total budget, Rs. 948 billion has been allocated for recurrent expenditure while Rs. 352 billion will be used for capital expenditure, Rising Nepal writes.

The government has estimated to mobilise 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 mobilisation is less than the recurrent expenditure by Rs. 59 billion.