Government to present fiscal year 2023-24 budget today

KATHMANDU: Today, during a joint meeting of the Federal Parliament, Finance Minister Dr. Prakash Sharan Mahat will present the budget for the upcoming fiscal year 2023–2024.

The budget for the upcoming fiscal year is anticipated to be around Rs. 1,688 billion, in line with the cap established by the National Planning Commission (NPC) earlier in February of this year, according to sources within the Finance Ministry.

By Magh 15 (the end of January) each year, the NPC must set the budget ceiling in accordance with the Economic Procedures and Financial Accountability Act of 2076.

This clause guarantees prompt planning and funding distribution for the following fiscal year.

The budget for the fiscal year 2023–2024 is anticipated to be roughly 9% higher than the budget of Rs. 1549.99 billion for the current fiscal year.

The revised allocation was taken into account when the adjusted budget size for the current fiscal year was announced at Rs. 1793 billion.

Fiscal Nepal |
Monday May 29, 2023, 10:54:06 AM |

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