June 16, 2022 | Investopaper
The Bagmati State Government has brought a budget of Rs. 70.93 billion for the Fiscal Year 2079/80. Minister for Economic Affairs and Planning Shakiram Jamarkattel presented the budget in the meeting of the state assembly on Wednesday. The total budget of the state government in the current Fiscal Year is Rs. 57.72 billion.
The state government has allocated a 27 percent or Rs 19.02 billion of the budget for current expenditure, 58 percent or Rs 41.56 billion for capital expenditure, 11.77 percent or Rs. 8.35 billion for financial transfer and 2.81 percent or Rs. 2 billion for financial management.
The estimated sources for the of coming fiscal year is Rs. 27.97 billion from tax revenue, Rs. 21.06 billion from federal revenue transfer and Rs. 16.67 billion from state reserve fund.
The state government has allocated Rs. 3.23 billion to the Ministry of Forest and Environment, focusing on physical infrastructure, health and education. Likewise, Rs. 830 million has been allocated for the Ministry of Internal Affairs and Law, Rs. 650 million to the Ministry of Industry, and Rs. 4.89 billion has been allocated to the Ministry of Health.
The budget includes a plan to set up a chemical fertilizer factory in the agriculture sector, hospital standardization in the health sector, start kidney transplant service in Hetauda hospital and establish a science and technology university in the education sector.