Urlabari unveils budget of Rs. 1.56B

By Our Correspondent, Urlabari, June 20: Urlabari Municipality in Morang district has unveiled a budget of Rs. 1.56 billion for the fiscal year 2024/25.

 Deputy Mayor Meena Kumari Khatiwada presented the budget during the 12th Municipal Assembly on Wednesday. The proposed budget is less by Rs. 80.31 million than the previous fiscal year's budget.

For the fiscal year 2023/24, the municipality's actual income was Rs. 87.77 million, significantly less than the proposed amount. Current expenses accounted for Rs. 361.9 million out of the allocated Rs. 560.83 million while capital expenditure reached Rs. 333.7 million out of Rs. 560.64 million.

For the current fiscal year, the municipality anticipates receiving financial support from the federal and provincial governments, including funds from financial equalisation, special grants, and various subsidies totalling Rs. 526 million. Additionally, Rs. 100 million is expected from value-added tax distribution and public participation.

Expenses include Rs. 140.91 million for administration, with allocations for city pride projects, disaster management, and municipal programmes amounting to Rs. 27.08 million. 

The budget also introduces initiatives like school counsellor appointments, farmer subsidies and health check-ups for pregnant women.

Vidya Chamling Rai, a member of the Koshi Province Assembly, offered her best wishes during the assembly session chaired by Mayor Ganga Prasad Kharel.

Urlabari Municipality in Morang district has unveiled a budget of Rs. 1.56 billion for the fiscal year 2024/25.