Koshi Province Presents Budget of Rs. 35.27 Billion
June 16, 2024 | Investopaper
Koshi Province has announced a budget of Rs. 35.27 billion for the fiscal year 2081/82. The budget was presented by Finance and Planning Minister Rambahadur Magar, allocating Rs. 1.47 billion for current expenses and Rs. 16.20 billion for capital expenditures. This is a reduction from the current fiscal year’s budget of Rs. 36.74 billion.
The funding sources include Rs. 31.92 billion from revenue and financial transfers, Rs. 3.25 billion from cash reserves, and Rs. 106.9 million from foreign aid. The internal revenue collection is estimated to be Rs. 4.98 billion. The budget aims to boost productivity in agriculture, industry, and services while prioritizing education, healthcare, infrastructure, and tourism development.
Koshi Province’s GDP has shown growth, with an increase from Rs. 599 billion in fiscal year 2075/76 to an estimated Rs. 903 billion in the current fiscal year. The province’s electricity production has risen from 121 MW to 577 MW, providing services to 97.7 percent of its population. All local government centers, except for a few, are now connected by road networks. The economic growth rate is projected to increase from 2.13 percent last year to 3.51 percent this year.
Related: Madhes Government Budget
