May 30: The government has announced a new budget of Rs 1793.83 billion for the upcoming fiscal year (FY 2022/023).

Presenting the annual budget during a meeting of the Federal Parliament on Sunday (May 29), Finance Minister Janardan Sharma said Rs 753.4 billion has been allocated for the current expenditure and Rs 380.38 billion for the capital expenditure.    

The current expenditure of the government accounts for 42 percent of the total budget while the capital expenditure is 21.2 percent of the budget.
Likewise, Rs 230.22 billion has been allocated for the fiscal management which is 12.8 percent of the total budget, the finance minister said.

A total of Rs 429.83 billion or 24 percent of the budget has been arranged for fiscal grant handover to the provincial and local governments.    
According to the Finance Minister, Rs 1240.11 billion would be raised through revenue collection while the government is expecting to receive Rs 55.46 billion as foreign grants.    
Likewise, the government plans to collect Rs 242.26 billion from foreign loans and Rs 256 billion would be managed from the domestic debt.    
The government had announced a budget of Rs 1647.57 billion for the current fiscal year. (With inputs from RSS)