Seven provincial govts announce total budget of Rs 278.67 billion for the next FY

KATHMANDU, June 17: All the seven provincial governments have announced a total budget of Rs 278.67 billion for the next fiscal year.

The announced budget is Rs 919.3 million less than the amount allocated for the current fiscal year. This is the second time that the provincial governments have reduced their earmarked annual budget. For the FY 2021/22, they announced a budget of Rs 305.46 billion, while the figure is Rs 279.61 billion for the current fiscal year.

Out of seven provincial governments, Bagmati Province and Sudurpashchim Province have increased their budget sizes. The provincial governments have rendered priorities to agriculture, employment, infrastructure development, tourism promotion and entrepreneurship development.

The seven sub-national governments have allocated a total of Rs 161.41 billion in capital expenditure and Rs 99.62 billion in recurrent expenditure. They have allocated Rs 17.86 billion for debt financing and transfers.

Bagmati Province has unveiled the largest budget of Rs 64.54 billion for FY 2024/25. The size of the budget in the province is more by Rs 1.83 billion compared to the budget of the current fiscal year. It has allocated Rs 26.1 billion for recurrent expenditure and Rs 36.93 billion for capital expenditure.

The Madhesh Province government has announced a budget of Rs 43.89 billion. It has earmarked Rs 16.71 billion (36.55 percent) for the recurrent expenses and Rs 27.89 billion (63.55 percent) for the development projects. The Madhesh Province government has declared 2082 BS as Tourism Year and will launch the campaign 'Visit Madhesh, Understand Madhesh'. The Chief Minister's ‘Green Province Campaign’ and achieving full literacy are among the aims of the provincial government.

The Sudurpaschim Province government has introduced a budget of Rs 31.62 billion. It has allocated Rs 11.72 billion for recurrent expenditure and Rs 17.53 billion for capital expenditure.

The Karnali province government has presented a budget of Rs 31.41 billion. Of the total amount, Rs 18.75 billion has been allocated for capital expenditure.

The Lumbini province government has appropriated its annual budget of Rs 38.96 billion. Of the amount 28.87 percent has been allocated for recurrent expenses and 63.09 percent for capital expenditure.

The Gandaki province government has unveiled an annual budget of Rs 32.97 billion. Over Rs 13.16 billion has been allocated for the recurrent expenses and Rs 19.51 billion for the capital expenditure.

The Koshi province government has unveiled its annual budget worth Rs 35.28 billion for the next fiscal year. A 'clean, happy and prosperous' province, electricity generation and irrigation are among its priority programs for the next fiscal year.