Finance Minister Barsha Man Pun has brought a budget of Rs 1.86 trillion for the fiscal year 2081/82 on Tuesday.
It is 6.2 percent more than the budget for the last fiscal year which was Rs 1.751 trillion.
Minister Pun has allocated Rs 1.14 trillion (61.31%) for recurrent expenditure, Rs 352.35 billion (18.94%) for capital expenditure, and Rs 367.18 billion (19.74%) for debt financing.
Similarly, Rs 408.27 billion has been allocated for transfer to the provinces and local bodies.
The budget plans to generate Rs 1.26 trillion through revenues, Rs 52.33 billion through foreign grant and generate the remaining amount of Rs 547.67 billion through foreign loans (Rs 217.67 billion) and domestic borrowing (Rs 330 billion).
The government will allow commercial production of cannabis for medicinal purpose formulating necessary law for the purpose.
The government has brought tourism promotion programs to attract 1.60 million tourists in the next fiscal year. It will identify new destinations and the tourists will be provided service through one-door policy. Pun has said that the government will also conduct programs in countries including neighbors China, India and others to attract tourists.
He has stated that the government will start branding of tea, coffee, cardamom and Himalayan water as part of the policy to export high-value goods produced using domestic labor and raw materials.
He has also announced free orientation program for those going abroad for employment.
