Seven provinces unveil total budget of Rs 279.59 billion for the FY 2023/24

Published On: June 17, 2023 08:00 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, June 17: All the seven provinces in the country on Friday announced a total budget of Rs 279.59 billion for the fiscal year 2023/24.

The amount allocated by the provincial governments for the next fiscal year is around Rs 26 billion less than the amount allocated for the current fiscal year. For the fiscal year 2022/23, a total amount of Rs 305.42 billion has been allocated under the financial plans of these provinces.

The Koshi Province government has announced expenses of Rs 36.24 billion for the fiscal year 2023/24. Announcing the budget, Minister for Economic Affairs and Planning of Koshi Province Himmat Kumar Karki said that the provincial government has allocated Rs 18.23 billion under capital expenditure and Rs 14.39 billion for recurrent expenditure.

Likewise, Madhesh Province government has announced an income and expenditure estimate of Rs 44.11 billion for the next fiscal year. Minister for Economic Affairs and Planning of Madhesh Province, Sanjay Kumar Yadav, unveiled the financial plan on Friday.

Of the amount, Madhesh Province has allocated Rs 18.21 billion for recurrent expenditure and Rs 25.79 billion for development expenditure.

Bagmati Province will be getting Rs 62.72 billion for its annual budget. Announcing the budget for fiscal year 2023/24, Minister for the Economic Affairs and Planning, Bahadur Singh Lama unveiled the budget, which is lower than that of the current year by around Rs 8 billion.

The Bagmati Province government has earmarked Rs 26.64 billion for recurrent expenditure, while Rs 35.50 billion has been allocated for development projects.

Gandaki Province announced a budget of Rs 33.42 billion for the next fiscal year. The amount is Rs 1.50 billion less than the allocated expenses for the current fiscal year.

Announcing the budget, Minister for Economic Affairs and Planning of Gandaki Province, Jit Prakash Ale, said the provincial government has allocated Rs 12.13 billion for recurrent expenditure while Rs 20.19 billion will be spent under capital expenditure.

The Lumbini Province government has announced a budget of Rs 40.47 billion for the next fiscal year, less than Rs 42.43 billion allocated for the current fiscal year. Minister for Economic Affairs and Planning Dhan Bahadur Maski announced to spend Rs 13.63 billion on recurrent expenditure and Rs 23.25 billion on capital expenditure.

Likewise, Karnali Province will be receiving expenses of Rs 33.37 billion for the fiscal year 2023/24. Minister for Economic Affairs and Planning of Karnali Province, Bed Raj Singh unveiled the budget on Friday. Of the amount, Rs 19.97 billion has been allocated for development projects; while over Rs 9 billion will be spent on recurrent expenditure.

The government of Sudurpaschim Province has planned to spend Rs 29.26 billion in the next fiscal year. Announcing the provincial budget on Friday, Minister for Economic Affairs and Planning of Sudurpaschim Province, Naresh Kumar Shahi, said the provincial government has allocated Rs 9.59 billion for recurrent expenses and Rs 17.02 billion for development projects.