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<p style="text-align:justify">The government had announced the budget of Rs 1050 billion for the current FY. The government that brought the budget exceeding the ceiling fixed by NPC and by including many ambitious programs, has not been so far able to spend the budget as expected.</p>
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April 4: The government has expedited the works of budget preparation for the upcoming fiscal year 2074/75 BS (2017-18) in order to bring the budget in the stipulated time.
“The government is preparing to bring the next budget with additional Rs 100 billion or 10.5 percent increase as compared to that of the current fiscal year. It is also planning to bring programs and policies in coherence with the increased budget amount,” said Madhu Marasini, Head (Joint Secretary) of Budget and Program Department of the Ministry of Finance.
Meanwhile, the National Planning Commission (NPC) has directed the ministry and other constitutional bodies to prepare the budget of upcoming fiscal year within the ceiling of Rs 1156.40 billion.
The government had announced the budget of Rs 1050 billion for the current FY. The government that brought the budget exceeding the ceiling fixed by NPC and by including many ambitious programs, has not been so far able to spend the budget as expected.
Therefore, for the upcoming budget, NPC has directed the government for recommending programs and projects that make it possible to spend the allocated budget in time.
Apart from the size of the budget, the ministry estimates that the current expenditure will also increase by Rs 90 billion to Rs 708.81 billion in the upcoming budget.
However, the capital expenditure is expected to increase by merely Rs 18 billion to Rs 330.64 billion. Nevertheless, a ministry source informed that the financial management budget will decline by nearly 80 billion to Rs 116.58 billion compared to the current FY.
In the estimated budget, Rs 843.60 billion is expected to be fulfilled through government revenue and internal loans. The government is planning to fulfill the deficit by means of foreign grants and foreign loans amounting to Rs 102.08 billion and Rs 210.36 billion respectively, said an official of the ministry.
The previous government had, with some ambitious projects, formulated the budget of Rs 1048 billion in the current FY. However, the government has spent only 38 percent of the total budget including 21.85 percent capital expenditure in the nine months period of the current FY.
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View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
