A budget of Rs 100 was allocated for education and Rs 38 for health. Similarly, elections were announced in B.S. 2009.
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| The revenue
was projected at Rs. 36.19 million in the budget. Photo Sancharkarmi.com |
KATHMANDU: The election government is bringing the full size budget of the coming fiscal year 2078/79 from the ordinance today. In this context, Nepal's first budget is mentioned here.
Although the budget is generally called the statement of income and expenditure, the budget is considered to be the record of economic activities of the last fiscal year. The budget is considered as a document of economic activities for the current fiscal year and a projected estimate of the activities for the coming year. The Asian Development Bank has defined the budget as a mirror of economic activity.
Nepal's first budget during the government of Nepali Congress leader Matrika Prasad Koirala. It was formally announced on January 21, 2008. The then Finance Minister Suvarna Samsher had presented a budget of Rs. 52.5 million to the parliament. The revenue was projected at Rs. 36.19 million in the budget. A budget of Rs 100 was allocated for education and Rs 38 for health. Similarly, elections were announced in 2009.
After the advent of democracy in 2007, a system of presenting the budget to the parliament has been developed. Before that, the family budget of Durbaria and Jahaniya Rana rule was allocated. This budget was the first time that the people, who had been exploited by the 104-year-old Jahaniya Rana regime, realized their right to economic freedom
