Kathmandu. The government has presented an annual budget of Rs 1,964.11 billion for the upcoming fiscal year 2082/83 BS. Finance Minister Bishnu Poudel presented the budget in the joint house of the federal parliament today.
Out of the total budget, Rs 1,180.98 billion (60.1 per cent) has been allocated for current, Rs 407.89 billion (Rs 80.8 per cent) for capital and Rs 375.24 billion (19.1 per cent) for financial management.
Which is 5 percent more than the current fiscal year and 18.2 percent more than the revised budget.
The government has said that insurance companies will be directed to expand access to rural areas. The government has increased the amount of dearness allowance received by civil servants by Rs 5,000. However, the government has not increased the basic salary. The government has made arrangements to provide concessional loans up to Rs 2 million without collateral to educated youths to make them entrepreneurial and self-employed.
The government has abolished the value added tax (VAT) levied on digital money transfers. The government has announced to attract the private sector to invest in sports infrastructure development.
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