Government trims budget size by 14 percent

Kathmandu: The government on Sunday reduced the budget size of the current fiscal year by a whopping 14 percent. Earlier, then Finance Minister Janardan Sharma had presented a budget of Rs 1,793 billion.

Announcing a mid-term review of the annual budget, Finance Minister Bishnu Paudel said the budget has been cut down to Rs 1549 billion. The size of the budget is cut down by Rs 244 billion, a 14 percent reduction from the budget announced by Sharma.

The government has reduced the budget for recurrent expenditure from Rs 1183 billion to Rs 1021 billion. Likewise, the budget for capital expenditure has been revised to Rs 313 billion from Rs 380 billion.