All provinces unveil annual budgets

Kathmandu, June 16: All seven provinces have unveiled their annual budget of more than Rs. 278 billion for the upcoming fiscal year 2024/25 with priority to increase production, productivity and job creation through infrastructure, agriculture and tourism development. 

Bagmati Province has unveiled a budget of Rs. 64.54 billion, largest among the provinces, while Karnali has announced the smallest budget of Rs. 31.41 billion for the next fiscal year. 

Almost all provinces have given priority for the infrastructure development along with making the province prosperous through the optimum utilization of local resources. 

Koshi: Rs. 35.27 billion

Koshi Provincial government has unveiled a budget of Rs. 35.27 billion for the next fiscal year 2024/25.

Minister for Economic Affairs and Planning of Koshi Province Ram Bahadur Magar presented the budget of the province at the meeting of the Provincial Assembly.

The annual budget of the province for the next fiscal year has been reduced by Rs. 1.5 billion as compared to the budget of the current fiscal year.  

The Koshi government had unveiled a budget of Rs. 36.74 billion for the current fiscal year.

The Koshi government has allocated around Rs. 14.47 billion (41 per cent) under the heading of recurrent expenditure, Rs. 16.20 billion (45 per cent) under the capital expenditure and Rs. 4.83 billion (13.69 per cent) under financial management. 

The province has set a target to mobilise Rs. 4.98 billion from the internal revenue of the province, Rs. 12.40 billion from the revenue distribution received from the federal government, Rs. 8.94 billion for fiscal equalisation, Rs. 4.16 billion for conditional grants.

Similarly, around Rs. 655 billion will be received from the federal government as supplementary grant and Rs. 780 million as special grant.

Of the remaining shortfall, Rs. 3.25 billion will be spent from the remaining cash balance and Rs. 105.9 million will be spent from foreign grants.

The Koshi provincial government has allocated a maximum budget of Rs. 10.41 billion for infrastructure development for the coming fiscal year. 

Similarly, Rs. 4.76 billion has been allocated for drinking water and energy, Rs. 3.58 billion for health, Rs. 2.67 billion for agriculture, Rs. 1.58 billion for social sector, Rs. 2.82 billion for tourism, forestry and environment. 

Similarly, the provincial government has allocated Rs. 1.03 billion for internal affairs and information and communication.

Through the budget of the next fiscal year, the Koshi provincial government has given priority to increasing agricultural productivity, physical infrastructure development, education, health and poverty alleviation.

The budget has made the provision to give concessions on interest of agricultural loan for commercialisation in agriculture. The government plans to discourage agricultural subsidies from the next fiscal year. The Koshi government has announced to eliminate foot-and-mouth disease in livestock. 

Minister Magar announced that the government would work in coordination with the federal government for the branding of domestic liquor.

Madhes: Rs. 43.89 billion

The government of Madhes Province has announced the budget of Rs. 43.89 billion for the upcoming fiscal year 2024/25. 

Minister for Finance of Madhes Province Bharat Prasad Shah presented the budget of the province at the meeting of the Provincial Assembly.

The government has allocated Rs. 16.07 billion for recurrent expenditure and Rs. 27.89 billion for capital expenditure. 

The share of recurrent and capital expenditure in the budget estimate is 36.45 per cent and 63.55 per cent respectively.  

The size of the budget of the Madhes Province for the next fiscal year has decreased as compared to the current fiscal year. The budget size of the province for the current fiscal year was Rs. 44.11 billion.

The province has set a target to mobilise Rs. 9.07 billion resources from the internal revenue of the province, Rs. 13.60 billion from the revenue distribution received from the federal government, Rs. 7.79 billion from fiscal equalisation and Rs. 3.55 billion from conditional grants.

Of the remaining shortfall, Rs. 7.86 billion will be spent from the remaining cash balance and Rs. 2 billion will be raised from domestic borrowing.

Bagmati: Rs. 64.54 billion

Bagmati Province has unveiled the largest budget among seven provinces amounting to Rs. 64.54 billion for the next fiscal year 2024/25. 

Minister for Economic Affairs and Planning of Bagmati Province Jagannath Thapaliya presented the budget at the Provincial Assembly on Saturday.

The government has allocated Rs. 26.10 billion for recurrent expenditure, Rs. 36.93 billion for capital expenditure and Rs. 1.5 million for financial management. 

The share of recurrent, capital and financial management in the budget is 40.44 per cent, 57.23 per cent and 2.32 per cent respectively.  

The province aims to raise Rs. 27.58 billion from tax revenue, Rs. 6.51 billion from other revenue, Rs. 15.57 billion in fiscal transfer from the federal government and reserve of the current fiscal year and Rs. 14.86 billion from other recipients. 

The size of the budget of the Bagmati Province for the next fiscal year has increased as compared to current fiscal year. The budget size of the province for the current fiscal year was Rs. 62.70 billion.

Minister Thapaliya said that Rs. 4.8 billion had been allocated for the next fiscal year to implement programmes, including infrastructure in the health sector.

Similarly, the government has allocated budget of Rs. 3.91 billion for the education and social development sector, Rs. 3.31 billion for forestry and environment and Rs. 930 million for employment and transportation.

Bagmati Provincial government has allocated Rs. 7.78 billion for the provincial road master plan. 

Minister Thapaliya said that provincial government had proposed the master plan to organise the construction of roads and bridges in the next fiscal year’s budget.

He said that the master plan would be effective in demarcating the area of provincial highways and provincial roads and organising construction. 

In the master plan, 20 roads have been listed as provincial highways and 230 provincial roads. The Bagmati Provincial government has allocated Rs. 2.28 billion for roads, bridges and suspension bridge.

Similarly, around Rs. 22.64 billion has been allocated for the Ministry of Physical Infrastructure Development.

He said that the government had been working to fulfill the vision of a prosperous Bagmati Province.

He said that the government of the province had moved forward by formulating essential laws, improving organisational structure, and manpower management in order to build the foundation of economic prosperity and development.

Gandaki: Rs. 32.97 billion

The Gandaki Provincial government has presented a budget of Rs. 32.97 billion for the next fiscal year 2024/25. 

Minister for Economic Affairs of Gandaki Province Dr. Tak Raj Gurung presented the budget at the meeting of the Provincial Assembly.

The provincial government has allocated around Rs. 13.16 billion (39.91 per cent) under the heading of recurrent expenditure, and Rs. 19.51 billion (59.19 per cent) under the capital expenditure.

Minister Gurung said that Gandaki Province would receive Rs. 7.63 billion from the federal government as fiscal equalisation and Rs. 9.61 billion from revenue sharing.

While presenting the budget, he estimated that the province would receive Rs. 481 million from royalty, Rs. 3.10 billion from conditional grants, Rs. 1.19 billion supplementary grants and Rs. 655 million from special grants. 

He estimated that the internal revenue of the province will be Rs. 5.17 billion. There will be a cash balance of Rs. 2.94 billion from the implementation of the budget for the current fiscal year, he said. 

The Gandaki Provincial government has planned to fill the deficit of budget of Rs. 1.70 billion from domestic borrowing for the next fiscal year.

The budget aims to make the province self-reliant in agriculture. 

The budget has proposed the ‘Invest Gandaki Programme’ targeting agriculture and tourism sectors to make the country self-reliant in agriculture. 

The budget has been allocated to implement the law on marijuana cultivation and to operate the mobile soil hospital.

The government has set a goal of making it self-sufficient in food, vegetables and fruits by preparing a province-level land use plan.

Similarly, the government has allocated a budget of Rs. 915 million for the Ministry of Tourism, Industry, Forest and Environment.

The government has allocated Rs. 5.47 billion for the social and health sector.

The budget of Rs. 12.70 billion has been allocated for physical infrastructure and transport management and Rs. 4.02 billion for energy, drinking water and irrigation for the next fiscal year.

Lumbini: Rs. 38.97 billion

The Lumbini Provincial government has presented a budget of Rs. 38.97 billion for the upcoming fiscal year 2024/25.

Minister for Economic Affairs and Planning of Lumbini Province Chetnarayan Acharya has presented the annual income and expenditure estimates of the province for the next fiscal year at the meeting of Provincial Assembly Saturday.

Minister Acharya allocated a budget of Rs. 11.24 billion for the recurrent expenditure, Rs. 24.58 billion for capital expenditure and Rs. 3.14 billion for fiscal transfer to local levels for the next fiscal year.

The province has set a target to mobilise Rs. 7.51 million from the internal revenue of the province, Rs. 12.01 billion from the revenue received from the federal government and Rs. 500 million from royalties to be received from the federal government.

Similarly, the provincial government has estimated to generate revenues Rs. 2.92 billion from local levels.

This size of the budget for the fiscal year 2024/25 has been reduced by Rs. 1.51 billion as compared to the budget of the current fiscal year 2023/24.

As mentioned in the policies and programmes, Lumbini Province has allocated the budget with a plan to expand the programme by continuing the previous programme. 

A budget of Rs. 100 million has been allocated for the agricultural sector with the programme of ‘Provincial support to farmers’.

Similarly, Rs. 51.6 million has been allocated for soil management programme, and Rs. 140 million for organic fertilisers. 

Similarly, the provincial government has allocated Rs. 124 million for the treatment of animal diseases to eradicate foot-and-mouth disease of cattle in Arghakhanchi district. 

Around Rs. 1.10 billion has been set aside for infrastructure development of the community and campus, Rs. 1.30 billion for drinking water management and Rs. 610 million for works such as embankments under water-induced disasters. 

The provincial government has allocated a budget of Rs. 135 million for energy and electricity sector, and Rs. 163 million for the border road. 

Karnali: Rs. 31.41 billion

Karnali Provincial government has unveiled a budget of Rs. 31.41 billion for the next fiscal year 2024/25.

Minister for Economic Affairs and Planning of Karnali Province Mahendra KC presented the annual income and expenditure estimates of the province at the meeting of the Provincial Assembly.

The Karnali government has allocated around Rs. 7.57 billion (24.12 per cent) under the heading of recurrent expenditure, Rs. 18.75 billion (59.7 per cent) under the capital expenditure and Rs. 4.83 billion (15.37 per cent) under fiscal transfer for the local levels. 

Similarly, the government has allocated Rs. 250 million (0.8 per cent) under the financial management for the next fiscal year.

The province has set a target to mobilise Rs. 834 million from the internal revenue of the province, Rs. 5.13 billion remainder of the current fiscal year, Rs. 9.38 billion from the revenue distribution received from the federal government, Rs. 10.36 billion from fiscal equalisation, and Rs. 3.71 million for conditional grants.

Similarly, around Rs. 1.28 billion will receive from the federal government as supplementary grant and Rs. 676 million as special grant.

Minister KC said that physical infrastructure and urban development have been prioritised in the budget. Around Rs. 10.46 

billion has been allocated for the Ministry of Physical Infrastructure and Urban Development.

The provincial government has allocated a budget of Rs. 5.72 billion for the Ministry of Social Development and Rs. 1.86 billion for the Ministry of Land Management, Agriculture and Cooperatives.

The budget of Rs. 460 million have been allocated for the continuation of the integrated settlement development programme, while Rs. 300 million has been allocated to transfer the ministries of the provincial government to integrated locations under the provincial capital infrastructure development programme.

The provincial government has allocated budget of Rs. 500 million for the reconstruction of health and educational institutions affected by the earthquake. 

The provision has been made to give subsidies based on production to encourage farmers who are rearing cattle. Under this, the farmers of Dolpa, Humla, Kalikot, Mugu and Jumla will get Rs. 10 per liter of milk and the farmers of Rukum West, Salyan, Surkhet, Dailekh and Jajarkot will get Rs. 5 per liter of milk as subsidy.

The provincial government has allocated Rs. 25 million for residential schools in the Himalayan region, and Rs. 43.5 million for community campuses.

Sudurpashchim: Rs. 31.62 billion

The Sudurpashchim Provincial government has unveiled a budget of Rs. 31.62 billion for the next fiscal year 2024/25.

Minister for Economic Affairs of Sudurpashchim Province Surendra Bahadur Pal presented the annul fiscal budget at the meeting of the Provincial Assembly on Saturday.

The provincial government has allocated around Rs. 11.07 billion (35 per cent) under the heading of recurrent expenditure, Rs. 17.53 billion (55.42 per cent) under the capital expenditure and Rs. 2.92 billion (9.25 per cent) under fiscal transfer for the local levels. 

Similarly, the government has allocated Rs. 100 million (0.31 per cent) under the financial management for the next fiscal year.

The province has set a target to mobilise Rs. 1.60 billion from the internal revenue of the province, Rs. 9.99 billion from the revenue distribution received from the federal government, Rs. 40 million from royalties, Rs. 8.72 billion for fiscal equalization and Rs. 6.15 billion surplus of the current fiscal year.

The government has estimated that it will receive Rs. 3.13 billion from conditional grant, Rs. 1.42 billion from supplementary grant and Rs. 550 million from special grant from the federal government.

The government has allocated budget of Rs. 13.35 billion for physical infrastructure development, Rs. 3.9 billion for land management, agriculture and cooperatives, Rs. 2.04 billion for industry, tourism, forest and environment, and Rs. 6.74 billion for education, health and sports.

The budget has focused on increasing production and productivity, physical infrastructure development, creating job opportunities and making the economy of the province self-reliant.

(With inputs from Sashidhar Parajuli, Ram Mani Dahal, Phadindra Adhikari, Diwakar Pokhrel, Lalit Basel)