Government unveils record Rs 1.860 trillion budget for fiscal year 2024-25

KATHMANDU: In a landmark announcement, Finance Minister Barsha Man Pun revealed the eagerly awaited budget for the upcoming fiscal year 2024/25 on Tuesday. The staggering figure of Rs 1.860 trillion exceeds the previously set ceiling of Rs 1.8 trillion established by the National Planning Commission, indicating a bold fiscal strategy by the government.

Breaking down the allocation, a significant portion of Rs 1.14066 trillion, equivalent to 61.31% of the total budget, is earmarked for recurrent expenditure. Additionally, Rs 352.35 billion, constituting 18.94% of the budget, is allocated for capital expenditure, while Rs 367.18 billion is dedicated to financial management.

This ambitious budget underscores the government’s commitment to bolstering economic growth, enhancing public services, and advancing infrastructure development. The allocation of resources reflects a strategic approach aimed at addressing both immediate needs and long-term objectives, signaling optimism for the nation’s financial trajectory in the coming fiscal year.