Budget for Fiscal Year 2072/73

Finance Minister Ram Saran Mahat announced an annual budget of Rs 819.47 billion for the fiscal year 2072/73. This FY budget focused on the reconstruction effort after the April 25 Earthquake and allocated Rs 91 billion for that purpose. Other attraction of this budget includes opening of 1942 km track roads, doubling of elderly allowance (Rs 1000 per month for elderly above 70 years now) and introduction of reward and punishment system in civil service to promote timely utilization of allocated budgets.
The appropriation bill presented has allocated Rs 484.27 billion of recurrent expenditure, Rs 208.88 billion for capital expenditure and Rs 126.32 billion for financing provision.

The government source of funds as stated on the budget include Rs 475.01 billion through tax and non-tax revenue, Rs 2 billion from principal repayment and Rs 110.93 billion from foreign grants. The budget deficit will be financed through loans, domestic loans and carryover from this fiscal’s budget.
Rs 74 billion has been allocated to National Reconstruction Fund of which Rs 2 billion will be used to rebuild archaeological structures.
Highlights

1. Cost increased for gutkha, potato chips, beer, alcohol, juice and Cigarette
2. Vehicle tax doubled for cars, jeeps, vans, micro-buses, mini-buses, mini-trucks, trucks and buses
3. Each lawmaker will now have Rs 2 million under constituency development program
4. Government to provide skills training to 50,000 youths on carpentry, masonry, plumbing and electrical works to generate workforce for reconstruction activities
5. Media companies exempted from license renewal fee in the next fiscal year, get 50 per cent discount on royalty fee

Government Ministry and budget allocation
Ministry of Education – 98 Arab 64 corore
Ministry of Local development and federal affairs – 77 Arab 23 corore
Ministry of Physical infrastructure and transport – 48 Arab 38 corore
Home Ministry – 41 Arab 81 corore
Ministry of Health and Population – 36 Arab 72 corore
Ministry of Defense – 32 Arab 75 corore
Ministry of Agriculture development – 26 Arab 68 corore
Ministry of Urban development – 24 Arab 92 corore
Ministry of Irrigation – 20 Arab 22 corore
Ministry of Forest and land preservation – 13 Arab 26 corore
Ministry of Finance – 10 Arab 7 corore
Ministry of Science, Technology and environment – 8 Arab 55 corore
Ministry of Energy – 6 Arab 52 corore
Ministry of Foreign Affairs – 5 Arab 27 corore
Office of Prime Minister and Council of Ministers – 5 Arab 20 corore
Ministry of Industry – 4 Arab 93 corore
Ministry of Tourism and civil Aviation – 4 Arab 52 corore
Ministry of Land reforms and Management – 4 Arab 25 corore
Ministry of Information and Communication – 4 Arab 21 corore