Finance Minister Dr. Yuba Raj Khatiwada presented the budget of NPR 1.53 trillion (USD 13.66 billion) in the parliament for the fiscal year 2019/20 on 29 May 2019. The government has set an ambitious goal of achieving 8.5% economic growth and 14.08% revenue growth target for the fiscal year 2019/20 beginning mid-July.
The federal budget has allocated NPR 99.85 billion (USD 891.52 million) to seven provinces and NPR 213.82 billion (USD 1.94 billion) to 753 local bodies as equalisation and conditional grants.
This neftake presents four key highlights of the budget:
- The budget amount increased by 14.55% to NPR 1.53 trillion (USD 13.66 billion).
- Source of budget vs. allocation of budget.
- The government has allocated NPR 5.1 billion (USD 45.5 million) for the “Prime Minister Employment Programme” with an aim to generate employment opportunities.
- Sector wise allocation of budget.