Minister for Economic Affairs and Planning of Province 1, Indra Bahadur Angbo, has presented a budget of Rs 39.73 billion for the fiscal year 2022/23.
Minister Angbo presented the budget in today's meeting of the provincial assembly of the Province.
In the budget, Rs 3.15 billion has been allocated for fiscal transfer at local levels. 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 billion 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 a revenue mobilization policy to control revenue leakage at the coordination of stakeholders.
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