KATHMANDU, May 22 -- The government is likely to announce an annual budget of Rs 1.723 trillion for the next fiscal year 2022/23, an increase in expenditure by Rs 100 billion.

Of the total budget size to be announced on May 29, the Ministry of Finance (MoF) is mulling over allocating Rs 1.049 trillion for recurrent expenditure, Rs 456 billion for capital expenditure and Rs 217 billion for financial management. The ministry has targeted to manage 85 percent of the total expenditure from revenue mobilization while around 12 percent of it will be fulfilled from foreign assistance, according to an MoF source.

The government has fixed a ceiling of Rs 167.30 billion, the largest of all, for the Ministry of Physical Infrastructure and Transpor...