Kathmandu, Nepal, May 28, 2020: Finance Minister Yubaraj Khatiwada has presented the fiscal budget of 2020-21 at the joint meeting of House of Representatives and the National Assembly on Thursday.
He presented the budget of Rs 1,474 billion for the upcoming, that stands about 58 billion less than the budget presented in the current fiscal year.
The government has allocated 948 billion for recurrent expenditure, 352 billion for capital expenditure and Rs 172 billion as financing.
The budget presented amid the global pandemic of coronavirus has not specified to control the spreading trend of coronavirus.
Likewise, the government has given continuity to the Local Infrastructure Development Program (LIDP), previously known as the Constituency Development Fund despite the widespread cry to cancel the program.
Finance Minister Khatiwada has allocated Rs 6.6 billion for the program. As of the previous years, each members elected from the 240 electoral constituencies will receive Rs 40 million under the program during the upcoming fiscal year.