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Government announces budget of 1647.57 billion Rupees for fiscal year 2021/22

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May 30, Kathmandu: The government has unveiled a budget of 1 trillion 647 billion 570 million Rupees for the next fiscal year.

The government has allocated 678.61 billion rupees for current expenditure and 374.26 billion Rupees for capital expenditure.

Similarly, 207.97 billion Rupees has been allocated for fiscal management.

Likewise, the government has aimed at collecting 1 trillion 24 billion 900 million Rupees from revenues and expects to collect 63.37 billion Rupees from foreign aids.

The rest of the amount is planned to be raised from internal and foreign borrowings.

The government has also aimed to achieve 6.5% economic growth rate in the upcoming fiscal year.

Announcing the budget on Saturday, Finance Minister Bishnu Prasad Paudel said the government had prioritized the health sector with the aim of saving people’s lives and administer vaccines to all citizens.

As per the budget statement unveiled on Saturday, the government had allocated 122.77 billion rupees for health sector with net budget of 26.75 billion rupees for vaccine procurement.

The government has said the anti-covid-19 vaccine will be administered to all citizen free of cost.

The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices.

The government has also emphasized extending and expanding health facilities with additional infrastructures and equipment.

The government has also decided to increase the social security allowances including the senior citizens’ allowance by 33%.

With this now the senior citizens will get 4 thousand Rupees per month.

The government has also increased the civil servants’ salary by 2 thousand Rupees.

The government has allocated 180.04 billion Rupees budget for the education sector in the fiscal year 2021/22.

The government has pledged to create favourable environment to make skill-oriented and quality education considering it a basis for human capital.

The government has also removed the excise tax imposed on the import of electric vehicles. Custom duty on such electric vehicles has also been reduced.

With the aim of increasing internal consumption of electricity, the government has also reduced the custom duty on electric utensils including induction stove.

The government also aims to add 16 hundred and  29 MW of electricity to the national grid with internal production.

 

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