Budget Speech of the Fiscal Year 2065/2066 (2008/2009)
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Budget Speech 2008/09(In Nepali) Budget Speech 2008/09(In English)

Govt unveils Rs 236 billion budget on 19th Sept 2008

Finance Minister Dr Baburam Bhattarai has unveiled a whooping budget of Rs. 236.15 for the fiscal year 2008-09. Out of the total expenditure, recurrent expenditure is estimated as Rs. 128 billion 516.5 million, capital expenditure Rs. 91 billion 311 million and principal payment Rs. 16 billion 189.3 million.

This expenditure estimate is higher by 39.7 percent against the total allocation of Fiscal Year 2007/08 and 44.5 percent more than the revised expenditure. On the recurrent expenditure side, it increased by 40.6 percent and on the capital expenditure side, by 64.5 percent to the revised expenditure. The principal payment has been lowered by 1 percent against the revised expenditure.

Out of the total expenditure, Finance Minister Dr Baburam Bhattarai has proposed Rs.111 billion 824.9 million (47.38 percent) for general administration and Rs. 124 billion 199 million (52.62 percent) for development related programs. For several years in the past, the government has substantially increased the general expenditure, which the new government gave continuity.

Addressing the constituent assembly session today, FM Bhattarai said government has given topmost priority to agriculture, water resources and tourism. FM said said that the country has achieved GDP growth rate of 5.6 percent in the last fiscal year.

While presenting the report of last fiscal year at the constituent assembly Friday, FM Dr Bhattarai said the inflation during the year has reached 7.7 percent.

He said the peace process has helped improve security situation, create investment friendly environment and increase output in the agriculture sector.

According to Dr Bhattarai, import has substantially increased while export slacked during that fiscal year reaching a negative trade balance of Rs 165 billion, India alone accounting for Rs 105 billion.

He said during the year, the government has collected Rs 107 billion in revenue and received Rs 34 billion as foreign assistance. nepalnews.com

Click below to Read or Download Full Text of:
Budget Speech 2008/09(In Nepali) Budget Speech 2008/09(In English)

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