Kathmandu, May 29: The government has announced a budget of 19 trillion 64 billion 11 crore rupees for the upcoming fiscal year. On Thursday, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel presented the budget exceeding 19 trillion in a joint meeting of the federal parliament.
The budget presented today will be implemented from July 17, 2025.
He stated that out of the total allocation, 11 trillion 80 billion 98 crore, which is 60.1 percent, is for general sector expenditure, and 4 trillion 7 billion 89 crore, which is 20.8 percent, is for capital expenditure.
Similarly, Minister Paudel informed that the financial management amounts to 3 trillion 75 billion 24 crore, which is 19.1 percent. He mentioned that 4 trillion 17 billion 83 crore rupees have been allocated for financial transfers to provinces and local levels in the total budget.
The government decided to provide five thousand rupees as a dearness allowance instead of an increment on the salary of the civil servants to control the excessive pension burden.
The government has kept as it is the age of 68 years for receiving a senior citizen pension.
Meanwhile, the government didn’t increase import duties on electric vehicles, which has encouraged the use of EVs.
The government has decided to merge community schools.
The government has aimed to encourage the IT sector to export software and services with only a 5% export tax.
The government has increased the budget for the educational sector.
Accordingly, Nepalis are allowed to invest in foreign countries.
People’s News Monitoring Service.
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