Thursday, 24th July 2014

Rs. 600 billion budget for new fiscal year


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The Government is preparing to table a budget of around Rs. 600 billion for the new fiscal year 2014/15.

The new budget estimates will record a rise of 15.21 per cent in the budget of the current fiscal year to reach Rs. 594 billion, according to spokesperson of the Ministry of Finance Ram Sharan Pudasaini.

All central bodies have been directed to send their respective proposals for the budget within March 29, said Pudasaini.

The current expenditures will probably rise by 11.58 per cent in comparison to the current fiscal year while capital expenditures and fiscal management will record an increment of 14.73 and 31.02 per cent respectively.

The budget for the fiscal year 2014/15 is being developed as per the 10-point guidelines including through the use of the line ministry budgetary information system software.

Spokesperson Pudasaini also said that a budget ceiling has been set for 10 ministries of priority including Education (Rs. 85 billion), Federal Affairs and Local Development (49 billion), Physical Planning and Transport (40 billion), Home (39 billion), Health and Population (33 billion) and Energy (30 billion).

Likewise, budget ceiling of Rs. 29 billion for defense, Rs. 23 billion for urban development, Rs. 22 billion for irrigation and Rs. 9 billion for forest and soil conservation has been set.