Provinces to unveil annual budget today

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Provinces to unveil annual budget today

Our Correspondent बुधबार, असार १, २०७९

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Provinces in Nepal are gearing up to announce their annual budget for the upcoming fiscal year 2022/23 on Wednesday, on the date set by the Intergovernmental Fiscal Management Act, 2017.

The subnational bodies have almost concluded their preparations for the budget and most of them have raised the estimates of income and expenditure for the coming year that begins on July 17. According to the primary information obtained by our correspondents in provinces across the country, the subnational bodies have prepared the budget with priorities to agriculture and infrastructure development in line with the federal budget announced a couple of weeks earlier.

Some of the provinces have also informed to announce programmes to implement reforms in public services and facilities. Major source of income for the provinces is the grant from the federal government and share in the revenue.

The federal government has allocated about Rs. 429.8 billion, 24 per cent of the total budget Rs. 1793.83 billion, for the fiscal transfer to the province and local bodies.

Province 1 is increasing the size of the budget by about 15 per cent to make it Rs. 37 billion. It is likely to get Rs. 30 billion from the federal government in various grants and revenue sharing.

Madhes Province has said that it would announce a productive budget without making it distributive. Agriculture, forestry, tourism and industry will be the priority sectors in the budget. Its budget size will also be at par with Province 1.

Bagmati Province is also according priority to agriculture, physical infrastructure and health. The province is increasing the size of budget by Rs. 10 billion compared to the budget of the current fiscal year 2021/22, Rs. 57.77 billion. The province is set to continue the Chief Minister Public Health Programme.

Likewise, Lumbini Province is preparing an estimated budget of Rs. 41 billion with a priority to agriculture, health and education. However, its expenditure is not encouraging in the current fiscal with just 41 per cent mobilisation of Rs. 40.95 billion budget.

Gandaki Province has also accorded priority to public health along with agriculture. It is also set to increase the size of the budget for the next fiscal from current year's Rs. 30.03 billion. The budget is said to include programmes to honour farmers, hire experts, establish a heart disease hospital and the like.

Similarly, Karnali Province said that the size of budget for the next year is likely to go down to Rs. 28 billion, from Rs. 36.5 billion this year. It has mobilised only 30 per cent of its annual budget this year. It is planning to promote innovation in agriculture, establish agricultural inputs company and promote such products.

प्रकाशित मिति: बुधबार, असार १, २०७९

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