Koshi province allocates budget of Rs 35.28 billion for FY 2024/25

Published On: June 15, 2024 06:50 PM NPT By: Republica  | @RepublicaNepal


BIRATNAGAR, June 15: The Koshi province government has allocated Rs 35.28 billion for the upcoming fiscal year.

Minister for Economic Affairs and Planning Ram Bahadur Magar presented the budget in the Koshi provincial assembly on Saturday.

Koshi Province government has announced a budget of Rs 4.99 billion for the upcoming fiscal year for transfer to local levels.

Minister Magar said that arrangements have been made for regular and supplementary grant transfers. An estimated Rs 950 million is expected to be transferred for revenue sharing.

The province has allocated a budget of Rs 10.42 billion for road infrastructure development in the upcoming fiscal year.

Minister Magar mentioned that budgets have been allocated for important projects such as regional roads, suspension bridges, road safety, construction of shelters for the homeless, Koshi Refreshment Center, Ghunghat-Biratchowk road, and the purchase of two Bailey bridges.

The budget has programs to promote state construction, establish systematic procedures, and construct, and locally produce construction materials.

The Koshi province government has allocated a budget of Rs 2.67 billion for industry, commerce, and cooperatives for the upcoming fiscal year.

Minister Magar mentioned that the government will adopt the policy to effectively digitize records, establish necessary arrangements for branding domestic liquor, regulate and manage cooperatives through joint monitoring, and mitigate potential risks.

The Koshi province government has announced to celebrate 2082 BS as Tourism Year. With the announcement of the Tourism Year, the provincial government aims to promote comprehensive tourism development and attract tourists from India and third countries. 


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