FM Pun unveils budget for remaining fiscal period

Finance Minister Barsha Man Pun presented the budget at a hastily organised ceremony in Singha Durbar Tuesday evening. He delivered the budget speech soon after President Ram Baran Yadav approved the ordinance presented by the government.

Finance Minister Barsha Man Pun presenting the budge in a press conference held at the...

The ordinance allows the government to spend a total of Rs 351.93 billion during the remaining fiscal period. Of this amount, 46.87 billion has been allocated for recurrent costs while Rs 51.34 billion as capital spending. Rs 50.08 billion will be managed by domestic and foreign loans.

While allocating budget for government services, perks of government employees and other basic government obligations, the budget has given continuity to the programmes unveiled earlier, FM Pun said.

"This is not a full budget. The government will bring full budget after a political consensus...and once the election date is fixed," he told media persons after delivering the budget speech.

According to him, the government had prepared a full budget of Rs 459 billion but was compelled to present only the two-thirds because of the opposition's consistent outcry.

He also said there was no "secret deal" with the President in exchange for the latter's approval of the budget ordinance. "The rumour that the government would step down if it is allowed to present the government is baseless," said he. nepalnews.com