Finance Ministry’s mid-term evaluation: Budget size reduced by Rs 244bn

KATHMANDU: Making a mid-term evaluation of the budget for Fiscal Year 2022/2023, the government has reduced the size of the budget to the tune of Rs 244 billion. Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel informed about this while unveiling the Mid-term Evaluation Report of current fiscal year in the House of Representatives, the lower house of the Federal Parliament, on Monday. The preliminary estimate of the total public expenditure of Rs 1 trillion 793 billion 830 million has been reduced to Rs 1 trillion 549 billion 990 million. With this, the budget base has decreased by 14%. The primary allocation towards current expenditure was equivalent to Rs 1 trillion 183 billion 230 million. This has been reduced to Rs 1 trillion 21 billion 920 million, which is equivalent to 86.37% of the primary allocation. Similarly, the initial allocation towards capital expenditure was Rs 3 trillion 80 billion 380 million and it has been slashed to Rs 3 trillion 13 billion 850 million. This deduction is equivalent to 82.51% of the initial allocation. Likewise, the initial allocation of Rs 2 trillion 30 billion 210 million towards fiscal management has been decreased to Rs 2 trillion 14 billion 210 million, which is equivalent to 93.05% of the initial allocation. By RSS READ ALSO:

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