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Nepal Budget 2078-79 | Nepal Budget Statement FY 2021-22 Highlights

Bishnu Prasad Paudel, Finance Minister of Nepal Government, has unveiled Rs. 16 kharba 47 arba 57 crore budget for the fiscal year 2078/2079.

 Nepal Budget 2078/79 Bishnu Prasad Paudel

Finance Minister Bishnu Paudel has brought a Nepal budget 2078-79 of Rs 1.647 trillion for the fiscal year 2078/79 on 29 May 2021. It was Rs 1.474 trillion for the fiscal year 2077/78. He allocated Rs 678 billion (41.2%) for recurrent expenditure at the center, Rs 347.26 billion (22.7%) for capital expenditure, and Rs 207.97 billion (12.6%) for debt financing. Similarly, Rs 386.71 billion (23.5%) has been allocated for transfer the provinces and local bodies. The budget plants to generate Rs 1.024 trillion through revenues, Rs63.37 billion through foreign gran and generate the remaining amount of Rs 559 billion through foreign loans (Rs 309 billion).

As the country has been hard hit by global Covid-19 crisis, the government has allocated big sums of money to the health sector and other sectors that could be significant in helping the economy of the country. It has aimed for an economic growth rate of 6.5 percent for the upcoming fiscal year.

Frequently asked questions for Nepal Budget 2078-79

What is the current budget of Nepal 2078-79?

Finance Minister Bishnu Paudel on Saturday, May 29, 2021 presented the annual budget plan for the next fiscal year 2021/22. The budget plan, which has a total size of Rs. 1.647 trillion, has many ambitious programmes whereas it also repeats some unimplemented programmes from past years.

When was the budget of Nepal 2078-79 announced?

On Saturday, 29 May 2021, Honorable Finance Minister Bishnu Prasad Paudel presented the full budget for the fiscal year 2078-79 (2021-22). The allocation of resources, priorities and significant policy statement of the budget is highlighted in this article.

Nepal Budget Statement FY 2021-22 Highlights

Priority over healthcare, big budget to education, social security allowances, Pork-barrel fund cancelled, government staff salary increased, covid-19 relief, subsidized loans, infrastructure plan and some interesting projects and announcements.

When was budget system started in Nepal?

Tradition of presenting annual budget in Nepal dates back to the 1950s. One of the new changes brought about immediately after the overthrow of Rana regime in February, 1951 was the beginning of presenting annual budget of the country.

Who passed the budget in Nepal?

The Nepal government has announced its Federal Budget for FY 2021-22 (2078-79) on May 29, 2021. Finance Minister Bishnu Prasad Paudel an NPR 1.647 trillion budget for the new fiscal year 2078-79.

What is Red Book in Nepal?

The “Red Book” is published by Ministry of Economic Affairs and planning and can be found in the publications of Nepal in Data Portal. The information contained in this publication can be accessed via the Data Tab of the Nepal in Data Portal by selecting the section Economy, Market & Finance.

When was annual budget prepared and published for the first time in Nepal in BS?

The first was a budget estimate for the Nepali year 2008 which covered the pried from March 1951 to February 1952. Sub-sequent budgets have been for the Nepali fiscal year, i.e., from July to June. While presenting the first budget (1951-52) to the country, Nepal’s first.

What is the difference between fiscal year and financial year?

A company's fiscal year is its financial year; it is any 12-month period that the company uses for accounting purposes. The fiscal year is expressed by stating the year-end date. A fiscal year-end is usually the end of any quarter, such as March 31, June 30, September 30, or December 31.

Nepal Budget 2078/79 PDF Download

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Lumbini Media - Nepali News and Entertainment Portal, Daily Nepali News Updates From Lumbini, Nepal: Nepal Budget 2078-79 | Nepal Budget Statement FY 2021-22 Highlights
Nepal Budget 2078-79 | Nepal Budget Statement FY 2021-22 Highlights
Bishnu Prasad Paudel, Finance Minister of Nepal Government, has unveiled Rs. 16 kharba 47 arba 57 crore budget for the fiscal year 2078/2079.
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