KATHMANDU: The Ministry of Finance announced an ambitious budget ceiling of Rs 1.8 trillion for the next fiscal year, 2081/82.

The resource committee, spearheaded by Min Bahadur Shrestha, Vice Chairman of the National Planning Commission (NPC), has crafted this budget ceiling.

Emphasizing a commitment to the nation’s economic development, the government will use this figure as the foundation for preparing the comprehensive budget for the upcoming fiscal year, said Minister of Finance, Dr. Prakash Sharan Mahat at a press conference on Friday morning.

For the current fiscal year, 2080/81, the allocated budget stands at Rs 1.751 trillion.

Looking ahead, the proposed budget for the next fiscal year reflects an increase of half a billion, illustrating the government’s dedication to addressing evolving economic needs.

Addressing concerns about potential budget cuts, Dr. Mahat clarified during the semi-annual review that the focus has been on assessing target achievability.

He reassured the public that despite ongoing evaluations, there have been no reductions in the budget, highlighting the government’s commitment to sustaining financial stability and fostering economic growth.