KATHMANDU, Feb. 7 -- The government has downsized the budget for the current fiscal year to Rs 1.692 trillion, which is 90.99 percent of the initial estimate. The government slashed the budget citing the slow capital expenditure, inadequate revenue collection and low realization of foreign loans.

Unveiling the mid-term review of the budget for the FY 2024/25 on Thursday, the government reduced the earmarked expenditure by Rs 168 billion than the amount allocated through the annual budget. Earlier, the government had announced a total budget of Rs 1.860 trillion for the current fiscal year.

It has become routine work for each government to announce an ambitious and inflated budget and then downsize it later.

Last year too, the governm...