Province 1 govt presents budget of Rs 39.73 billion

Published On: June 16, 2022 10:38 AM NPT By: Republica  | @RepublicaNepal


Province 1 govt presents budget of Rs 39.73 billion

BIRATNAGAR, June 16: Minister for Economic Affairs and Planning of Province 1, Indra Bahadur Angbo, has presented a budget of Rs 39.73 billion for fiscal year 2022/23.

In the budget, Rs 3.15 billion has been allocated for fiscal transfer at local level. Of the allocated expenditure, Province 1 government has targeted to finance Rs 4.98 billion through internal revenue, Rs 11.88 billion from revenue sharing, Rs 8.69 billion from conditional grants, Rs 920 billion from matching grants and Rs 256 million from foreign grants. 

The budget has given priority to expanding tax limits by preserving the tax basis while determining the revenue policy and limits of tax for the coming fiscal year, increasing tax participation, capacity building of human resources assigned in revenue administration and adopting revenue mobilization policy to control revenue leakage at the coordination of stakeholders.

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