KATHMANDU, Feb. 12 -- The government has downsized the budget for this fiscal year by 12.62 percent to Rs 1.530 trillion.

Through the mid-term review of the budget on Monday, Finance Minister Prakash Sharan Mahat reduced the allocated expenditure by Rs 221.05 billion for the fiscal year 2023/24. Earlier, on May 29, 2023, the government unveiled an annual budget of Rs 1.751 trillion. The revised budget is 87.38 percent of the previously announced budget.

In the revised estimation, the government has projected to spend 88.84 percent of the actual regular expenditure worth Rs 1.141 trillion. Similarly, the government has estimated to spend 84.13 percent of Rs 302.07 billion under capital expenditure and 87.39 percent of Rs 307.45 billion u...