Lumbini province unveils a budget of around Rs 38.96 billion

LUMBINI, June 16: The Lumbini province government has appropriated its annual budget of Rs 38.96 billion for the upcoming fiscal year 2081/82 BS. 

At Saturday'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 capital 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.