New annual budget today

The government is set to table the new annual budget for fiscal year 2064/2065 on Thursday afternoon.

Finance Minister Dr Ram Sharan Mahat is scheduled to table the expected income and expenditure for the next fiscal year in the Interim Legislature-Parliament.

Today’s parliamentary session will begin at 4 pm.

According to reports, the budget (approx 170 billion rupees) has given top priority to the Constituent Assembly (CA) polls slated for November 22.

Of the total budget Rs 170 billion, the government is likely to allocate Rs 100 billion under regular expenditure.

Similarly, the government is likely to allocate Rs. 4.5 billion for the Constituent Assembly (CA) Polls' expenditure.

The budget amount has been increased to cover the increment in the salary of civil employees, the cost of CA elections as well as the management of the People’s Liberation Army (PLA) camps.

In the new budget, government is expected to remove the state allowance for the King and royal family members.

In the current fiscal year budget, the government had allocated the state allowance of Rs 32.7 million for the King, queen, crown prince, crown princess and the queen mother.