The government of Province 1 today announced a budget of more than Rs 32.46 billion for the next fiscal year 2078/79.
The budget for the next fiscal year was announced by Minister of Economic Affairs and Planning of Province 1 Tanka Angbuhang Limbu. For the next fiscal, the provincial government has allotted over Rs 14.16 billion for recurrent expenditure and more than Rs 15.05 billion for capital expenditure.
Similarly, for financial assistance to the local levels the government has allocated over Rs 3.22 billion. Meanwhile, Rs 30 million has been allotted for financial management purposes.
Minister Limbu also announced that the provincial government will mobilise revenue through different sources. The government will mobilise over Rs 4.09 billion through inland taxes and Rs 9.81 billion through distribution of taxes mechanism. Similarly, it plans to receive more than Rs 8.56 billion from the federal government’s Fiscal Equalisation Fund.
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