April 10, 2018 07:54 AM NPT
KATHMANDU, April 10: The Ministry of Finance (MoF) has fixed budget ceilings for the local units and provinces on Sunday. Such budget allocation- comprising both revenue distribution and equalization grants - varies from Rs 90 million to Rs 1.03 billion while the allocation is in a range of Rs 13 billion to 15 billion for provinces.
The MoF has made these allocations to allow the local units and provinces to plan their budget for the next fiscal year. Hari Prasad Basyal, chief of Inter-Governmental Fiscal Management Division of MoF, informed Republica that they have conveyed the decision to fix the ceilings to all local levels and provinces. “These ceilings for the next fiscal year may however see some variations during budget speech of the federal government,” added Basyal.
Officials of the National Natural Resources and Fiscal Commission said that they may not get two grants - matching and special grants - because of the resource crunch being faced by the federal government.