•      Sat Jul 13 2024

Rs 38.96 bln budget allocated in Lumbini, Rs 32.97 bln in Gandaki

Gandaki Minister for Economic Affairs and Planning Dr Takraj Gurung.

Butwal, June 15: The Lumbini province government has appropriated its annual budget of Rs 38.96 billion for the upcoming fiscal year 2081/82 BS.

At today’s meeting of the province assembly, Minister for Economic Affairs and Planning Chet Narayan Acharya presented the budget proposing Rs 11.24 billion 2.78 million (28.87 percent) of the total appropriated budget for recurrent expenses and Rs 23.58 billion 5.9 million (63.09 percent) for capitali expenditure.

Likewise, Rs 3.14 billion 1.3 million has been earmarked for fiscal transfer.

Minister Acharya informed the assembly that the budget could not be increased as compared to the current fiscal year due to decline in the grants amount provided by the federal government and the source of revenue of the province.

Out of the estimated expenditure in the next fiscal year, Rs 7.51 billion will come from internal revenue, Rs 12.15 billion from revenue sharing from the federal government, Rs 501.7 million of royalty to be received from the federal government and Rs 2.92 billion to be received from revenue allocation from the local level.

Similarly, Rs 8.28 billion will be mobilized from financial equalization grant from the federal government, Rs 4.19 billion from conditional grant, Rs 795 million from supplementary grant, Rs 744.6 million from special grant and Rs 2 billion from cash reserves of the current fiscal year.

Gandaki province unveils Rs 32. 97 billion annual budget

The Gandaki province government today has unveiled annual budget of Rs 32.97 billion in the province assembly meeting.

Minister for Economic Affairs and Planning Dr Takraj Gurung presented the budget for the fiscal year 2081/82.

According to the budget proposal, over Rs 13.16 billion has been allocated for the recurrent expenses and Rs 19.51 billion for the capital expenditure. With this, 39.91 percent of the total budget is for recurrent expenditure and 59.19 percent for capital expenditure.

A budget of Rs 30 million has been earmarked for the financial management.

The province government has set a target of collecting Rs 5.17 billion from internal revenue sources. As shared, around Rs 7.64 billion will be received from the federal government’s financial equalization grants, Rs 9.61 billion from revenue sharing, Rs 3.11 billion from conditional grants and Rs 481 million as royalties under supplementary grants.

Minister Gurung informed that the budget has been introduced focusing on the objective of enhancing quality infrastructure and production, employment, income, social justice, development and good governance.

According to Minister Gurung, the province government will raise Rs 1.70 billion from domestic borrowing.

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