The Bagmati Province government has brought the budget of over Rs 62.70 billion for the upcoming fiscal year 2023-24.
Province Minister for Economic Affairs and Planning, Bahadur Singh Lama, on Friday presented the government's estimates of revenue and expenditures for the next fiscal year.
The province government has made appropriations of Rs 26.7 billion towards current expenditure, Rs 35.56 towards capital expenditure, and Rs 500 million for financial management.
Furthermore, it has a target of collecting Rs 25.17 billion under tax revenues, Rs 5.26 billion under other sorts of revenues and Rs 17.81 billion through federal financial transfers. Likewise, Rs 14.45 billion is estimated to be managed from the estimated reserve fund in the current fiscal year and other sources of income.
The government announced a subsidy of Rs 10 per kg organic fertilizer and worm castings to encourage farmers for improving soil quality, production and productivity.
The government through the budget has declared to observe the year 2024 as the 'Province Visit Year', stressing on the restoration of cleanliness of the rivers with substantive management of waste.
In addition to this, the province government has unveiled that it would be pursuing a policy of establishing a Model Special Tools Bank in province capital Hetauda and the Kathmandu Valley for quality maintenance of motor vehicles.
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