Business

Ministry cannot slash budget passed by Parliament: Finance Minister Mahat

KathmanduPati February 16, 2024

File Photo

KATHMANDU – Finance Minister Dr. Prakash Sharan Mahat has said the budget passed by the sovereign parliament could not be reduced.

Organising a press conference at the Ministry today, Finance Minister Mahat refuted the news that the budget of the current fiscal year was cut and made it clear that the Ministry could not slash the budget passed by the parliament.

He mentioned that there should not be any confusion among the people, adding the budget was only evaluated mid-term. Stating that progress of revenue and budget implementation was reviewed, the Finance Minister said revenue collection was increased by 10 per cent as compared to previous fiscal year.

More revenue would be collected and spent as per the rule, he said and added that the income and expenditure was estimated based on revenue collected. The government had allocated Rs 1.751 trillion budget for current fiscal year. A budget ceiling of Rs 1.8 trillion has been set for coming fiscal year 2024/25, he informed.