Yubaraj Khatiwada, Nepal Finance Minister
Yubaraj Khatiwada, Nepal Finance Minister

Nepal unveils Rs 1.31 trillion budget for FY 2018/19

ANI | Updated: May 29, 2018 19:53 IST

Kathmandu [Nepal], May 29 (ANI): The Nepal government on Tuesday unveiled the first federal budget of Rs 1.31 trillion for fiscal year 2018-19 at the Federal-Parliament.
According to Nepal Finance Minister Yubaraj Khatiwada, the government aims to collect Rs 8 trillion from revenues in the upcoming fiscal year and Rs 202 billion from foreign aid, Kathmandu Post reported.
Nepal's Finance Minister today presented the first federal budget of the Himalayan nation after completing the three-tier elections held simultaneously in the year of 2017.
The economic growth presumed by Finance Minister is hard to meet without increasing the tax levied on the public, the experts had projected.
Two days before presenting the budget for the upcoming fiscal year, the Finance Minister also stated that the budget deficit of the Himalayan Nation is expected to grow by 10.4 percent. Though Nepal unveils its budget every year, hardly 50 percent of the total allocated budget is spent over the title it is less spent and is freeze over.
There is a provision to unveil Nepal's budget for the next fiscal year on May 29. (ANI)