KATHMANDU: The government has revised the budget estimates for the current fiscal year 2024/25 for the second time.
This follows an earlier revision made during the mid-year budget review in February. The latest update was announced by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel while presenting the budget for the upcoming fiscal year 2025/26 in the joint session of the Federal Parliament.
According to Minister Paudel, the total government expenditure for the current fiscal year has been adjusted to Rs 1.662 trillion, which is 89.4 percent of the original allocation of Rs 1.860 trillion.
He noted that the revised figures show current expenditure reaching 88.5 percent of the allocated Rs 1.140 trillion, capital expenditure at 84.4 percent of the Rs 352.35 billion allocation, and financial management spending close to 97.6 percent of the allotted Rs 367.28 billion.
On the revenue front, the government now expects to collect Rs 1.267 trillion in total revenue, which is below the initial target of Rs 1.419 trillion. The projections for foreign aid and loans have also been reduced. The foreign grant target was lowered from Rs 52.32 billion to Rs 34.89 billion, while foreign borrowing is now expected to reach Rs 169.60 billion.
This second revision of the budget reflects the government’s response to challenges in revenue collection and external funding, aiming to better align expenditure with available resources while continuing key development activities.
Comment