FY 2022/23 budget announced, education sector receives Rs 196 billion budget

May 29, 2022

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Kathmandu: The annual budget of revenue and expenditure for the coming Fiscal Year 2022/2023 has been tabled at the House of Representatives today.

In the meeting of the House of Representatives, Finance Minister Janardan Sharma tabled the budget for the coming fiscal year.

For coming fiscal year, the government has allocated Rs 16 billion more budget as compared to the this fiscal year to the education sector.

Tabling the budget in the meeting of House of Representatives on Sunday, Finance Minister Janardan Sharma said the Ministry of Education was provided Rs 196 billion for coming fiscal year 2079/80. It is for the ministry, and the province and local levels under the ministry combined.

Meanwhile, to provide the relief to mid-income people, the government has widened the income tax ceiling.

Finance Minister Janardan Sharma informed with the new budget that an individual is to pay one percent tax for up to half million income in a year while same tax rate is applicable to the married couple but the income ceiling is up to Rs 600 thousand.