Finance Minister Swarnim Wagle will make public the budget for the upcoming fiscal year in a joint meeting of Parliament at 4 pm today.
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The Cabinet meeting is underway at the Office of the Prime Minister and Council of Ministers in Singha Durbar. The Cabinet meeting has been held to pass the budget for the upcoming fiscal year 2083/84. Finance Minister Swarnim Wagle will present the budget for the upcoming fiscal year in a joint meeting of the Parliament at 4 pm today.
Finance Minister Swarnim Wagle, who has been opposing the large-sized budget, is presenting the budget for the upcoming fiscal year beyond the limit set by the Sources Committee. At a time when revenue has shrunk and foreign grants are not increasing as expected, Finance Minister Wagle is going to present a large-sized deficit budget with an ambitious target for revenue collection.
The National Resources Estimates Committee led by the Vice Chairman of the National Planning Commission had set the budget ceiling (limit) for the fiscal year 2083/84 at 1.89 trillion rupees. However, since it was not possible to prepare the budget within that limit, the Resources Committee, which met on Wednesday at the request of the Finance Minister, has increased the budget ceiling given earlier to around 2.15 trillion rupees. An official involved in budget preparation said, “I estimate that the budget will be between 2.1 and 2.2 trillion rupees.”
