Finance Minister presents Rs 12.78 kharba budget with aim of achieving 7.20% economic growth

Finance Minister and Deputy Prime Minister Krishna Bahadur Mahara has unveiled budget of Rs 12 kharba and 78 arba (Rs 1.278 trillions) for next fiscal year 2074/75 in the House of Parliament today. Presenting the budget, Mahara said that this budget has emphasized implementation and functionality of newly formed local levels, post-quake reconstruction, construction of national pride projects and peace and constitution implementation. Mahara also said that most of the indicators in this fiscal year were positive and the government has projected that it would spend 84% of the allocated budget for this fiscal year. The government has allocated Rs 10 crore to Rs 39 crore for Gaupalika, Rs 15 crore - Rs 43 crore for municipalities, Rs 40 crore - Rs 63 crore for sub-metropolitan cities and Rs 56 crore - Rs 1.23 arba for metropolitan cities. Likewise, the government has also allocated budgets for national pride projects like Upper Tamakoshi and Budhi Gandaki Hydroelectric Projects. Rs 4.56 arba has been allocated for Upper Tamakoshi while Rs 10.17 crore has been budgeted for Budhi Gandaki. Similarly, Rs 13.72 arba has been allocated for Second International Airport in Nijgadh, Gautam Buddha Regional International Airport and Pokhara Regional International Airport. Kathmandu-Hetauda fast track also got Rs 10.74 arba. The government has also set aside budgets for disaster management, energy development, urban development, education and drinking water. The government, however, did not increase the salary of civil servants this year. Overall, the government aims to achieve an ambitious economic growth of 7.20% next year. Full Budget Speech: