Budget size is Rs 819.468 billion

KATHMANDU: The total size of the budget announced for the new Fiscal Year 2015/16 is Rs 819.468 billion.

This is 32.6 per cent greater than the budget allocated for the Fiscal Year 2014/15.

Of the total amount, Rs 484.27 billion (59.1 per cent) has been earmarked for recurrent expenditure, Rs 208.87 billion (25.5 per cent) for capital expenditure and Rs 126.33 billion  (15.4 per cent) for financial provisions.

Presenting the budget at the Parliament today, Finance Minister Dr Ram Sharan Mahat said that Rs 475.01 billion would be collected from the revenue, Rs 2 billion from principal repayment, Rs 110.93 billion from foreign grants, Rs 88 billion, and Rs 94.96 billion from foreign loans. Also, he said that the state coffer has Rs 26.73 billion as savings from the Fiscal Year 2014/15.

What is more, the government has allocated Rs 74 billion for the National Reconstruction Fund, while extra Rs 17 billion would also be provided to the concerned authorities until the Reconstruction Authorities comes into operation.