KATHMANDU:- The government has allocated a budget of Rs 2124 billion 340 million for the upcoming fiscal year 2083/84 (2026/27).

Presenting the budget for the upcoming fiscal year during a joint meeting of the Federal Parliament earlier today, Finance Minister Dr Swarnim Wagle said that out of the total allocation, Rs 1270 billion 580 million, or 59.8 percent of the budget, has been allocated as current expenditure.

Whereas Rs 431 billion 100 million, or 20.3 percent has been allocated as capital expenditure. Furthermore, Rs 422 billion 640 million, or 19.9 percent of the total allocation, is for financial management.

The expenditure estimate is about 25 percent higher than the revised estimate for the current fiscal year. Of the total allocated budget, the government estimates to collect Rs 1405 billion from revenue and Rs 61 billion 740 million from foreign grants.

Out of the deficit of Rs 657.29 billion, Rs 247.28 billion will be mobilised from foreign loans, and the remaining Rs 410 billion through internal loans.

As per the provisions related to fiscal transfer under the federal form of governance, Rs 61.5 billion will be disbursed to the provincial government and Rs 90.2 billion to the local levels in the coming fiscal year as an equalisation grant as recommended by the National Natural Resources and Fiscal Commission.

In addition, supplementary grants of Rs 4.6 billion and Rs 8.93 billion will be provided for the implementation of infrastructure projects at the provincial and local levels, respectively. Special grants of Rs 3.82 billion and Rs 9.40 billion have been allocated for the provincial and local levels, respectively.

Meanwhile, for the implementation of federal government projects, conditional grants of Rs 49.72 billion and Rs 206.8 billion will be distributed to the provincial and local levels, respectively. A total of Rs 175 billion is expected to be transferred to the provinces and local levels through revenue sharing.

The full text of the budget speech delivered by Finance Minister Wagle can be accessed in Nepali at https://mof.gov.np/content/1741/budget-statement-for-the-financial-year-2083-84/. RSS