Hetauda, March 7
With the formation of the government in Province-3, the issue of the upcoming budget has also gained much attention here now.
As per sources, the province will get 1 billion rupees that the federal government has allocated to each of the seven provinces. “As for the current fiscal, the budget will mostly cover only current expenses,” said Basanta Adhikari, secretary at the Ministry of Financial Affairs and Planning.
“In the case of the development sector, only top priority and large projects will get funding under the upcoming budget this fiscal,” he said, adding, “As we are yet to codify the provincial law and identify tax sources, we will have only the 1 billion rupees to be received from the federal government for the budget this time.”
Meanwhile, the Ministry of Financial Affairs and Planning has already prepared the draft of tax and non-tax-related laws and financial procedure act. “Once the act is passed by the Provincial Assembly, the province will bring the budget, perhaps by the third week of March,” Adhikari said.
A version of this article appears in print on March 08, 2018 of The Himalayan Times.