BIRATNAGAR, June 24: The Biratnagar Metropolitan City has presented the estimated annual income and expenditure for the upcoming fiscal year 2022/23 here today.
Metropolis's Deputy Mayor Shilpa Nirala Karki read out the budget worth Rs 3.62 billion out of which Rs 550.35 million will be spent for administrative expenses and recurring expenses.
Similarly, over Rs 1.89 billion will be spent for development of physical infrastructures while Rs 30.60 million has been allocated for environment conservation and disaster management. For social development, Rs 78.39 million has been allocated while Rs 270.73 million has been allocated for economic development.
Of the estimated sources of expenditure for the upcoming fiscal year, Rs 1.21 billion will be provided by the federal government under federal government intergovernmental fiscal transfer while Rs 40.91 million by the provincial government.
The metropolis has estimated that Rs 1 billion would be collected from internal revenue and over Rs 80 million from public participation and over Rs 100 million from grants and loans among others.
The newly presented budget is expected to help achieve the policies and programmes put in place by the Province No 1 government for the upcoming fiscal year.
Meanwhile, deputy mayor Karki announced the three-year mid-term expenditure structure and said Rs 3.98 billion is estimated for fiscal year 2023/24, Rs 4.38 billion for fiscal year 2024/25.