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Government unveils budget of Rs 1860 billion for next fiscal year

The government has allocated Rs 1140.66 billion for recurrent expenditure, and Rs 352 billion for the capital expenditure, and Rs 367 billion for financing purposes.

Kathmandu: The government has unveiled a new budget of Rs 1860 billion for the upcoming Fiscal Year 2024/2025.

Presenting the annual budget during a meeting of the Federal Parliament on Tuesday, Finance Minister Barsaman Pun said Rs 1140.66 billion has been allocated for recurrent expenditure and Rs 352 billion for the capital expenditure. Likewise, Rs 367 billion has been allocated for financing purposes.

The recurrent expenditure of the government accounts for 61.31 percent. Likewise, budget allocated for capital expenditure and financial purposes is 18.91 percentage and 19.77 percentage, respectively.

The government has set a target to collect Rs 1260 billion revenues to manage its resources. Likewise, it aims to receive Rs 52.33 billion in foreign aid, Rs 217.67 billion from foreign loans, and Rs 330 billion from domestic borrowing.