According to the budget proposal, a copy of which has been obtained by myrepublica.com, the government plans to spend Rs 190.11 billion under recurrent expenditure and Rs 145.46 billion for capital expenditure and principal repayments. [break]
Likewise, the upcoming budget plans to allocate Rs 16.53 billion for the purpose of repaying internal loans and another Rs 23 billion for paying back principals as well as interest of bilateral and multilateral loans.
Of the total resource required, the proposal has planned to mobilize Rs 255.40 billion from internal resources while remaining Rs 80.17 billion will be collected through foreign loans and grants. The government is planning to mobilize Rs 225 billion of internal revenue in the coming fiscal year. Of the total foreign aid, foreign grant will comprise Rs 58.88 billion while remaining Rs 21.29 billion is expected to come as foreign loan.
Among the ministries, Ministry of Education will remain as the biggest absorber of the government resources followed by Ministry of Local Development and Ministry of Physical Planning and Works. The team has proposed Rs 55.08 billion for the Education ministry, up from this year´s allocation of Rs 46.62 billion. Of the proposed amount, over 85 percent is planned to go for financing recurrent expenditures.
Similarly, a budget of Rs 37.56 has been proposed for Ministry of Local Development, which is an increment of just over 5 percent compared to the budget allocated last year. Of the proposed sum, almost 70 percent is proposed to be spent for local development and block grants for VDCs and DDCs.
Ministry of Physical Planning and Works, which is the principal agency for implementing mega development projects, has been recommend a budget worth Rs 34.94 billion. The proposed budget is 18.5 percent more than what was allocated in this fiscal year. Ministry of Health is likely to get a total budget of Rs 23.77 billion for the next fiscal year.
Similarly, Ministry of Home Affairs is likely to get Rs 20.80 billion as total resources for coming fiscal year. Of the amount, Nepal Police and Armed Police Force will get Rs 18.77 billion while the remaining amount will be spent for general administration and health related activities.
The joint team has proposed to allocate Rs 17 billion for Ministry of Defense in the coming fiscal year, up from Rs 15.6 billion allocated in the current fiscal year. Of the proposed amount, Rs 16.72 billion is expected to go for Nepal Army.
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