Kathmandu, Feb. 11 -- Nepal's interim government on Tuesday cut the size of the annual budget for the ongoing fiscal year after concluding that the originally allocated amount could not be fully spent.

For the current fiscal year, which ends in mid-July, then finance minister Bishnu Prasad Paudel of the CPN-UML-coalition government had unveiled a budget of Rs1.96 trillion.

Presenting the mid-term review, the Sushila Karki-led government, formed after the September Gen Z protest, said Rs275.78 billion of the allocation would remain unspent, translating into a 14.4 percent reduction.

The finance ministry said the revised budget size now stands at Rs1.68 trillion.

According to the ministry, recurrent expenditure has been cut from Rs1.18 ...