The government today presented an ambitious budget of Rs 18 trillion 60 billion 30 million for the upcoming fiscal year 2081/82 BS, marking a significant 6.2 percent increase from the current year's budget.
Finance Minister Barshman Pun unveiled the expansive financial plan during a joint session of the Parliament, emphasizing the administration's commitment to driving economic growth and development across various sectors.
The proposed budget represents a 21.56 percent hike compared to the revised budget for the current fiscal year. In the previous year, the government had introduced a budget of Rs 17 trillion 51 billion 31 million.
Breaking down the allocations, a staggering Rs 11 trillion 40 billion 66 million, accounting for 61.31 percent of the total budget, has been earmarked for recurrent expenditures. Additionally, Rs 3 trillion 52 billion 35 million, or 18.94 percent of the budget, has been allocated for capital expenditures, reflecting the government's focus on infrastructure and development projects.
Furthermore, Rs 3 trillion 67 billion 18 million, constituting 19.74 percent of the budget, has been allocated towards the financial sector, underscoring the importance of maintaining a robust and stable financial system.
Minister Pun expressed confidence that the proposed budget would drive economic momentum, create employment opportunities, and foster sustainable development across the nation. However, concerns have been raised by opposition parties and economic experts regarding the feasibility of implementing such an ambitious budget and the potential strain it may place on the country's resources.
As the budget proposal undergoes scrutiny and debate in the Parliament, the nation awaits further details on specific sector allocations and the government's strategies to ensure effective implementation and fiscal accountability.
