Sudurpashim govt announces budget of Rs 29.26 billion

The Sudurpashim Province government unveiled the budget of Rs 29.26 billion for the upcoming fiscal year 2023-24.

Province Minister for Economic Affairs, Naresh Kumar Shahi, presented the government's estimates of revenue and expenditure for the upcoming fiscal year in the Province Assembly session Friday.

Out of the total, Rs 9.59 billion has been allocated towards current expenditure, Rs 17.02 billion for capital expenditure, and Rs 2.34 billion under intergovernmental fiscal transfers, and Rs 300 million for financial management.

Additionally, the sources of revenue to cover these expenses include Rs 1.5 billion from internal revenue mobilization, Rs 9.41 billion from the sharing of government revenues, Rs 65.06 million from the federal royalty sharing and Rs 8.52 billion from financial equalization grants received from the federal government. Likewise, Rs 3.86 billion is estimated to be reserved from the current fiscal year's fund, Rs 770 million is estimated to be received as grants with conditions and Rs 620 million is estimated to be obtained as special grants.

Productive cooperative sectors, co-investment between the private and cooperative sectors, commercial uses of forest products and herbs, promotion of integrated tourism, investment promotion in health, education, drinking water and housing sectors, social development and cultural transformation, integrated quality and sustainable development, employment creation, proper and sustainable utilisation of natural resources, entrepreneurship development, poverty alleviation and protection and promotion of sports, language, art and culture are the priorities of the budget.

---