KATHMANDU: The government has set a budget ceiling of Rs 1.89 trillion for the upcoming fiscal year 2083/84, according to the Ministry of Finance.
Finance Ministry Secretary Ghanshyam Upadhyay informed a meeting of the parliamentary Finance Committee on Tuesday that the ceiling was determined by the National Resource Estimation Committee, based on projected revenue and expenditure needs for the next fiscal year.
He said all ministries have already entered their plans and details into the Budget Management Information System.
The Ministry of Finance is currently holding separate discussions with ministries to review budget priorities, cut unnecessary spending, and assess incomplete projects.
Upadhyay also informed the committee that capital expenditure for the current fiscal year has reached 26 percent so far.
He added that responsibilities such as budget reallocations have been delegated to the respective ministries, which is expected to help improve capital spending performance.
