GANDAKI, June 16: The Gandaki province government on Saturday 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 said 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.