KMC announces budget of Rs 25.70 billion for the FY 2024/25

Published On: June 25, 2024 10:35 AM NPT By: Republica | @RepublicaNepal

Local governments are mandated to present budget on Asar 10 of Nepali month

KATHMANDU, June 24: The Kathmandu Metropolitan City (KMC) has announced its annual budget of Rs 25.70 billion for the fiscal year 2024/25.

Deputy Mayor of the KMC, Sunita Dangol presented the budget before the 15th meeting of the municipal assembly on Monday. The size of the KMC’s budget for the next year is Rs 170 million less than the amount earmarked for the current fiscal year.

Of the total amount, the metropolis has allocated Rs 14.81 billion (61.20 percent) for infrastructure development. Likewise, Rs 3.49 billion (14.44 percent) has been allocated for administrative expenses.

The KMC will be spending Rs 3.81 billion (15.75 percent) in the social sector, while Rs 1.89 billion (7.82 percent) is earmarked for good governance and related sectors.

The major sources of revenue worth Rs 24.20 billion will be generated out of the amount collected in the reserve funds, while the KMC has targeted to generate revenue worth Rs 1.50 billion from projects related to land integration. The grants from both the federal government and provincial government will make up for the remaining portion of the revenue for the metropolis.

Meanwhile, the Lalitpur Metropolitan City has announced a budget of Rs 7.46 billion for the next FY. The amount is Rs 960 million more than that of the current FY. The metropolis has allocated Rs 4.67 billion for development projects and Rs 2.78 billion for recurrent expenditure.

Bharatpur Metropolitan City has come up with a budget of Rs 6.55 billion for the next FY. Mayor Resident Program for marginalized community people, promotion of greenery, Daughter Insurance Program and promotion of renewable energy consumption are among the priority programs of the metropolis.

Similarly, Bhaktapur Municipality has proposed a budget of Rs 2.66 billion for the FY 2024/25. Of the amount, Rs 994 million (37.30 percent) is allocated for development expenditure, Rs 1.57 billion (58.93 percent) for recurrent expenditure and Rs 105 million for financial management. Storage plants and marketing of local agricultural products, tourism promotion and waste management are among the priorities of the municipality for the next FY.

Nepalgunj Sub-metropolitan City has announced a budget of Rs 1.50 billion for the next fiscal year. The amount is Rs 350 million less than the budget earmarked for the current fiscal year.

The Nepalgunj sub-metropolis will take forward ‘Visit Western Nepal 2081’ to promote tourism in its area. Conservation of holy places, promotion of organic farming, free insemination of cattle and management of stranded quadrupeds will be its focused programs for FY 2024/25.