Finance Minister Mahat presenting annual budget for FY 23/24 [Live]

NL Today

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Kathmandu: Finance Minister Prakash Saran Mahat is presenting the annual budget of the government for the Fiscal Year 2023/2024 in the joint meeting of the federal parliament. 

Here are the major highlights of the budget.

  • The government estimates to collect Rs 1179 billion revenue in this fiscal year
  • The government decides not to purchase new vehicle in the next fiscal year
  • The government allocates Rs 146 billion for fiscal transfer, Rs 58.67 billion to provincial governments and Rs 87.35 billion for local governments
  • The government allocates Rs 1.25 billion for startup promotion
  • The government allocates Rs 3.22 billion for the Prime Minister Agricultural Modernisation Project.
  • The government has set aside Rs 30 billion for its fertilizer subsidy program for the next fiscal year.
  • The government to start feasibility study for marijuana farming for medicinal purposes.
  • The government allocates Rs 58.98 billion for the Ministry of Agriculture and Livestock Development.
  • The government decides to open land fragmentations.
  • The government allocates Rs 7.24 billion for the Ministry of Agricultural, Land Management and Cooperatives.
  • The government allocates Rs 54 billion to build infrastructure in Special Economic Zones.
  • The government plans to promote Himalayan spring water as “Water from the Himalaya” and export it to international markets.
  • The government allocates Rs 9.46 billion for Ministry of Industry,Commerce & Supplies.
  • The government allocates Rs 8.08 billion for the Ministry Of Labour, Employment and Social Security.
  • The government has decided to observe the ‘Visit Nepal Decade’ from 2023 to 2032.
  • The government has announced a discount on ground handling services for airlines operating from the international airports in Pokhara and Bhairahawa.
  • The government has allocated Rs 8.45 billion for the mid-day meal program.