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Govt reduces annual budget size in half-yearly review

File: Bishnu Prasad Paudel

Kathmandu, February 9

The government of Nepal has revised its annual budget that it is spending this fiscal year.

Owing to its weak spending capacity, the government slashed the budget by 0.81 per cent after its half-yearly review.

As per the budget announced in May last year, the government had to spend Rs 1 trillion and 446 billion this year. But with the revision, it has set the annual spending target at Rs 1 trillion and 345 billion.

In the first six months of the fiscal year (mid-July 2020-mid-January 2021), the government was able to spend only 29.19 per cent of the annual budget.

Finance Minister Bishnu Paudel says the expenses related to the general elections and the Covid-19 vaccination purchase will be covered in the revised amount. He assures the government will not cut down on the budget of the development projects that have already been approved.

Paudel has already clarified that he will not introduce any supplementary budget plan targeting the polls.

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