Finance Minister Ram Sharan Mahat is presenting the budget for the next fiscal year 2015/16 at the Parliament, The Himalayan Times has reported.

The size of the annual budget is expected to fall between Rs 820 billion to Rs 825 billion.

Earlier, a meeting of the Cabinet held this afternoon had endorsed the budget for the upcoming fiscal.

Minister Mahat said the government is likely to collect only 93 per cent of the revenue estimated for this fiscal year, due to the April 25 earthquake.

He said the earthquake is likely to increase poverty in the nation. That, however, will be restricted to 25 per cent, he claimed.

The government is facing a serious challenge to maintain economic growth rate above eight per cent to graduate the nation from the least developed countries into the developing countries by 2022, he added.

The new budget aims to promote people’s trust in the government by prioritising relief, reconstruction and rehabilitation works in the aftermath of the devastating quake, he maintained.

“We will not let people of earthquake-hit region feel lack of budget,” he said.

According to live tweet posted on MyRepublica.com, 5.75 billion allocated for upgrade and establishment of domestic airports.