Govt introduces new budget thru substitution bill, Rs 1.632 trillion is new budget size

KATHMANDU: Government has tabled a new budget for the fiscal year 2021/22 amending the earlier ordinance budget introduced by the outgoing KP Oli Government.

The Finance Minister tabled the budget substitution bill amid the obstruction by the lawmakers of the main opposition CPN UML on Friday afternoon. 

The amended budget has a size of Rs 1.632 trillion including the recurrent expenditure of Rs 677 billion, capital expenditure of Rs 371 billion and Rs 189 billion has been allocated for fiscal management. Similarly, the government has earmarked Rs 387 billion for fiscal transfers for the provincial and local levels. 

Earlier, the erstwhile Finance Minister Bishnu Poudel presented an annual budget of Rs. 1.647 trillion in May, earlier this year. Of the total budget, Rs. 678 billion was allocated for recurrent expenditure while Rs. 347 billion was to be used for capital expenditure. The KP Oli-led government allotted Rs 279 billion for fiscal management through the ordinance budget.