Govt Brings Budget of Rs 1,474.64 billion, Targets 7% Economic Growth

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Govt Brings Budget of Rs 1,474.64 billion, Targets 7% Economic Growth

The government has announced the Federal Budget of Rs 1,474.64 billion for the fiscal year 2020/21. In his budget speech, Finance Minister Dr Yuba Raj Khatiwada informed that a total of Rs 948.94 billion has been allocated for recurrent expenditure while Rs 352.91 billion has been allocated for capital expenditure in the next fiscal year. The budget has targeted to raise Rs 889.62 billion through revenue collection while aiming to raise Rs 60.52 billion through foreign assistance.

Similarly, it has aimed raising Rs 299.50 billion and Rs 225 billion in external and internal debts, respectively. Meanwhile, the government has set economic growth target at 7 percent for FY2020/21. Likewise, it has announced to keep inflation rate target at 7 percent for the next fiscal year, an increment of one percentage point from current fiscal year’s target of 6 percent.

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