Kathmandu: The Federal Government has revised and trimmed the size of the fiscal budget for the current financial year 2079-80. Finance Minister Vishnu Paudelle announced a reduction in the size of the budget by Rs. 2 trillion 44 billion through a semi-annual review of the budget in the Parliament meeting. Presenting the semi-annual review report of the fiscal budget in the Parliament, Finance Minister Bishnu Paudel announced that the budget has been downsized to Rs. 15 trillion 49 billion 99 crores.
Addressing the meeting of the House of Representatives on Sunday, he also announced that the current budget expenditure will be limited to Rs.10 trillion 21 billion 92 crores against the previous estimation of Rs. 11 trillion 83 billion 23 crores. Similarly, on the capital expenditure side, the estimation of Rs. 3 trillion 80 billion 38 crores has been revised to Rs. 3 trillion 13 billion 85 crores.
Similarly, the total collection target for revenue has been trimmed to Rs. 12 trillion 44 billion 75 crores after revision of the annual budget. The target of the foreign grants has been resized to Rs. 38 billion 45 crores against the previous estimation of Rs. 55 billion 45 crores from foreign grants
The Federal Govt expects to raise Rs. 1 trillion 70 billion 53 million from external debt. The target of raising Rs. 2 trillion 56 billion from internal debt has also been revised and set to Rs. 2 trillion 40 billion only.
