10 per cent of budget to manage administrative section of country

By TRN Online, Kathmandu, May 29: 10 per cent of the total budget is spent on the management of the administrative sector of the country.

While presenting the budget for the upcoming fiscal year 2023/24 at the meeting of the federal parliament,  Finance Minister, Ram Sharan Mahat, said that Rs 1, 280, 250, 000,000, which is 10 per cent total budget to manage the administration part of the country.

Mahat said, “There are some of the good things that came out in the current fiscal year despite low financial activity. Increase in tourism and a rise in the economy in the last quarter of the fiscal year were some encouragement.”

. The financial activity has slowed down so financial growth is in a snail place owing to high-interest rates, COVID-19, and Russia and Ukraine war. However, economic activity has increased in the fourth quarter of the current fiscal year.

The revenue collection is less in the current fiscal year But, the revenue collection has increased in the country with the removal of registrations on the import of some items as well.