Bagmati State Government Presents a Budget of Rs 64.54 Billion
June 16, 2024 | Investopaper
For the upcoming fiscal year 2081/82, the Bagmati Province government has introduced a budget of Rs. 64.54 billion. Presenting the budget to the Provincial Assembly on Saturday, Minister for Economic Affairs and Planning, Jagannath Thapaliya, detailed the allocations: Rs. 26.10 billion for current expenditures, Rs. 36.94 billion for capital expenditures, and Rs. 1.50 billion for financial management. This year’s budget exceeds the previous year’s budget of Rs. 62.70 billion by Rs. 1.84 billion. Revenue estimates include Rs. 27.39 billion from tax revenue, Rs. 6.51 billion from other revenues, Rs. 15.58 billion from federal financial transfers, and Rs. 14.86 billion from reserves and other receipts.
Significant budget provisions include the expansion of the provincial capital, Hetauda, and the relocation of risk-prone settlements to create collective communities. The budget also aims to make the under-construction Provincial Assembly building tech-friendly and complete it within the year. To achieve full illumination in the province, Rs. 6.93 billion has been allocated to the Ministry of Water Supply, Energy, and Irrigation; Rs. 3.21 billion to the Ministry of Forest and Environment; and Rs. 440 million to the Ministry of Internal Affairs and Law.
The budget also prioritizes the establishment of Peace Parks in honor of martyrs, adopting a zero-tolerance policy against corruption, and allocating Rs. 1.50 billion for a concessional loan program aimed at creating more employment opportunities. An additional Rs. 16.1 million has been set aside to make the province plastic-free, promoting an environmentally friendly region and reducing plastic use. Plans include organizing environmental conferences and planting trees along major city highways and roadsides.
Finally, the budget focuses on key sectors such as education, health, agriculture, and tourism, reflecting the government’s commitment to comprehensive development and improvement of living standards in Bagmati Province.
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