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Discussion on: Analyze the budget of Nepal

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sanjaya

Budget is simply a description of a financial plan which estimates the revenue and expenditure for a stated period of time.

On 29th may 2018, the finance minister Yubaraj khatiwada presented Nepal’s first federal budget of Nepalese rupee 1.31 trillion in the joint session of House of representatives and the national assembly for the fiscal year 2018/2019. The government has targeted 29.8% revenue growth and 8 % economic growth for this fiscal year.

The federal budget has allocated NPR 113.43 billion to seven provinces along with NPR 195.05 billion to 753 local bodies as equalization and conditional grants. Under the revenue-sharing scheme, the local bodies and provinces have received NPR 53.82 billion and NPR 60.42 billion respectively from the divisible fund (Government of Nepal, Ministry of Finance, 2018).

The source of budget financing of Nepal will be from the foreign grant, domestic borrowing, foreign borrowing, and revenue. It has allocated 12% of its budget for financial management, 13% for capital and 64% for recurrent.

The source of budget financing of Nepal will be from the foreign grant, domestic borrowing, foreign borrowing, and revenue. It has allocated 12% of its budget for financial management, 13% for capital and 64% for recurrent.

Thirdly, in education, science, and technology sector the government has allocated NRs 134 billion which shares 10.23 % of the total budget. The government announced that it will upgrade the current state of universities and the curriculum of schools will be improved.

In conclusion, it is seen that the government has allocated more budget on education, science and technology sector than national defense and health sector. My suggestion is that the government ought to increase its allocation of the budget on health likewise on the education sector because health is the first priority and go along with education for all people.

References

(2018). Retrieved from Government of Nepal, Ministry of Finance: mof.gov.np/en/archive-documents/bu...