Biratnagar downscales budget for new fiscal
BIRATNAGAR, JUNE 24
Biratnagar metropolis has presented its estimated budget of 3.378 billion rupees for the upcoming fiscal 2020-21.
As per the budget made public by Deputy Mayor Indira Karki at the sixth municipal assembly today, the sub-metropolis is expected to earn 890 million rupees in internal revenue in the next fiscal.
The expected income increase for the next fiscal is 300 million rupees from the municipality‘s income of Rs 590 this fiscal.
Similarly, the metropolis is expected to receive 768.2 million rupees from the national and provincial governments under revenue distribution and an additional 380 million rupees from financial equalisation from both governments.
Likewise, the metropolis is expected to receive 1.0219 billion rupees as conditional grant from both federal and provincial governments.
Further, it is expected to receive 160 million rupees from both governments under a special grant programme.
The metropolis has allocated 341.95 million rupees from its income for administrative expenses for the next fiscal, while the amount allocated for social security stands at 360 million rupees. It has allocated 1.7179 rupees for physical infrastructure and other capital expenditure.
The metropolis had presented a budget worth 5.9 billion rupees for the current fiscal.
A version of this article appears in e-paper on June 25, 2020, of The Himalayan Times.