Finance Minister unveils annual budget of Rs 1.86tn for FY 2024/25

KATHMANDU: The government has announced a budget of Rs 1,860.30 billion for the forthcoming fiscal year 2024/25.

Finance Minister Barsha Man Pun presented the budget at a joint session of the federal parliament this afternoon.

As per the announcement, Rs 1,140.66 billion, or 61.31%, has been allocated for current expenditure, while Rs 352.35 billion, or 18.94%, has been set aside for capital expenditure. Additionally, Rs 367.28 billion, or 19.74%, has been allocated for fiscal management.

The budget for the upcoming fiscal year is 6.2% larger than the current fiscal year and 21.56% more than the revised estimate of the current fiscal year’s budget.

Out of the total allocation, Rs 408.87 billion has been earmarked for fiscal transfers to the provinces and local levels.

The major sources of revenue for the upcoming fiscal year’s budget include Rs 1,260.30 billion from revenue collection, Rs 52.33 billion from foreign grants, and Rs 217.67 billion from foreign loans. Furthermore, Rs 330 billion is expected to be raised from internal loans.