The government has announced the budget to be transferred to the province and local levels as grants for the new fiscal year 2080/81.
According to the budget statement read out by Finance Minister Dr Prakash Sharan Mahat, 146 billion rupees has been allocated as equalization grant while 227 billion rupees have been allocated under conditional grants to the local level and provinces for the next financial year.
Similarly, a total of Rs. 58.67 billion has been allocated to the province and Rs. 87.35 billion to the local level for fiscal equalization grant based on the recommendation of the National Natural Resources and Fiscal Commission.
As supplementary grant, Rs. 6.22 billion has been allocated for the provinces and Rs. 7.5 billion to the local level. Under special grant, Rs. 4.46 billion has been allocated for the province and Rs. 8.73 billion to the local level.
Likewise, a total of Rs. 173.92 billion will be transferred to the provincial and local levels through revenue sharing. Dr Mahat said the conditional, supplementary and special grants will be transferred only on the basis of work progress.
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