Govt brings budget of NRs 1.751 trillion for FY 2023/24

KATHMANDU- The government today brought a budget of NRs 17 trillion 51 billion 310 million for the fiscal year 2023-24.

This is less than the budget for the current fiscal year 2079/80. Finance Minister Dr. Prakash Sharan Mahat unveiled the budget on Monday.

Out of the total budget, Rs 11 trillion 41 billion 780 million (65.20 percent) has been allocated as the operating budget.

Likewise, Rs. 3 trillion 2 billion 70 million and 3 trillion 7 billion 450 million rupees (17.25 percent of the total budget) has been allocated as capital budget.

The government has also allocated Rs 4 trillion 80 million rupees for the provincial and local levels.

Likewise, the government has allocated Rs 157.73 billion for social security programs including for senior citizen allowance.

Finance Minister Dr Mahat said a budget of more than Rs 230 billion as compared to current fiscal year has been allocated under this heading.

The government has given continuity to Rs 4,000 monthly allowance being provided to senior citizens above 68 years.

Similarly, budget has been allocated for social security allowance being provided to Dalit, single woman, poor and marginalized community, who have completed 60 years.

A total of Rs 134 billion was allocated for social security, medicine and financial assistance in the current fiscal year.

Similarly, the government has allocated Rs 197 billion for the Ministry of Education, Science and Technology for the fiscal year 2080/081 BS.

In the current fiscal year, the government has allocated Rs 70.05 billion for education in the federal level, Rs 5.32 billion in the province level and Rs 121 billion in the local level.

Likewise, the government has announced to run Milk Bank for infants. Finance Minister Dr Mahat said that the Milk Bank would be run at the Paropakar Maternity and Women’s Hospital in Thapathali, Kathmandu.

Likewise, Minister Dr Mahat said that budget has been arranged for the infrastructure development and equipment purchase for BP Koirala Cancer Hospital, GP Koirala National Respiratory Treatment Centre, Sushil Koirala Cancer Hospital, Manmohan Cardiothoracic Vascular and Transplant Centre, Suresh Wagle Memorial Cancer Centre, Ramraja Prasad Singh Health Science Academy and Bhaktapur Cancer Hospital.

Similarly, the government has allocated Rs 30 billion for the procurement of of chemical fertilizers for the coming fiscal year through the budget.

The government allocated Rs 30 billion for the procurement of chemical fertilizers.

The government has also allocated Rs 1.25 billion for startup promotion for the next financial year 2023-24.

The government allocated Rs 1.25 billion for the promotion of startups. The program has been running since the current fiscal year.

Meanwhile, the government has cancelled all types of incentives given to government meployees. Similarly, the government has also decided to discourage the purchase of vehicles for government use. Finance Minister Mahat also said that all unnecessary expenses will be minimized.

Finance Minister Dr. Mahat also announced dissolution of 20 government-owned institutions in a bid to minimize expenditure.

Likewise, the government issued an estimate of government expenditure for the current fiscal year of Rs 1,504 billion.


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