KATHMANDU, JUNE 15
All seven provinces presented their budget for fiscal 2022-23 at their provincial assemblies today.
The provincial governments have primarily focused their budget on development of infrastructure, along with promotion of agriculture and tourism sectors.
Province 1 government presented a budget worth Rs 39.73 billion. The budget presented by Minister of Economic Affairs and Planning Indra Bahadur Angbo has given due priority to economic growth through sustainable production and social justice and citizen prosperity. The province has set an optimistic growth target of 5.41 per cent for the fiscal year of 2022-23.
The province has set the internal revenue collection target for the next fiscal at Rs 4.98 billion, Rs 11.88 billion from revenue distribution, Rs 9.82 billion from equalisation grant from the federal government, Rs 8.69 billion from conditional grant, Rs 920 million from supplementary grant and Rs 475 million from special grant.
The remaining amount will be collected through inventory financing and foreign grants.
Madhes Province government tabled a budget of Rs 46.88 billion. The budget was presented by Minister of Economic Affairs Shailendra Prasad Shah and it aims to utilise Rs 21.76 billion or 46.44 per cent as recurrent expenditure and Rs 25.82 billion or 52.21 per cent as capital expenditure.
While Rs 160.24 billion has been allocated for financial management in coming budget, it has given priority to education, health and agriculture sectors. The government had presented a budget worth Rs 33.79 billion for the ongoing fiscal.
In Bagmati Province, Minister of Economic Affairs and Planning Salikram Jamkatel tabled a budget of Rs 70.93 billion for the next fiscal. It focuses on agricultural transformation, stability and sustainable economic growth through production-based economy.
The provincial government has allocated Rs 19.24 billion under recurrent expenditure, while Rs 41.56 billon and two billion rupees have been set aside under the headings of capital expenditure and financial management, respectively.
The government of Bagmati Province had presented a budget worth Rs 57.72 billion for ongoing fiscal.
The government plans to finance its expenses through taxes and revenue amounting Rs 27.97 billion, Rs 6.22 billion from other revenue, Rs 21.68 billion from federal financial transfers and Rs 16.67 billion from the state reserve fund, respectively.
Gandaki Province presented a budget worth Rs 35.90 billion for fiscal 2022-23 against Rs 30 billion budget for the ongoing fiscal. The budget was tabled by Gandaki Province Finance Minister Ramjee Prasad Baral.
It gives priority to health, education, tourism, agriculture.
The government has earmarked Rs 13.26 billion under recurrent expenditure and Rs 22.14 billion under capital expenditure.
It has allocated Rs 500 million for financial management, while Rs 2.11 billion for financial transfer at the local level.
Lumbini Province presented a budget of Rs 42.63 billion for the upcoming fiscal. Minister for Economic Affairs and Cooperative Krishna Dhwaj Khadka today presented the budget prioritising health, education, agriculture and tourism sectors. The government has allocated Rs 13.32 billion as recurrent expenditure and Rs 24.47 billion as capital expenditure.
With high priority to commercialise agriculture sector in the province, the government has said it will endorse import-substitution policy by promoting exports.
Minister of Economic Affairs and Planning of Karnali Province Bindaman Bista unveiled a budget worth Rs 32.61 billion for the next fiscal giving priority to education, health and infrastructure sectors. The government aims to utilise Rs 9.16 billion as recurrent expenditure and has earmarked Rs 19.43 billion for capital expenditure.
Similarly, the province government has allocated Rs 4.16 billion for financial management in the budget for next fiscal.
Sudurpaschim Province has tabled a budget of Rs 36.74 billion for the next fiscal. The budget was tabled by Economic Affairs Minister Prakash Rawal, aiming to utilise Rs 12.29 billion as recurrent expenditure and Rs 24.14 billion as capital expenditure.
The Sudurpaschim Province has given high priority to agriculture, roads, drinking water, irrigation, infrastructure and energy.
A version of this article appears in the print on June 16, 2022, of The Himalayan Times.
