Lumbini Province Brings Budget of Rs. 38.97 Billion

June 16, 2024 | Investopaper

The Lumbini Province government has allocated a budget of Rs. 38.97 billion for the upcoming fiscal year, Rs. 1.5 billion less than the current fiscal year’s budget. Presented by Economic Affairs and Planning Minister Chet Narayan Acharya, the budget includes Rs. 11.24 billion (28.87 percent) for current expenditures, Rs. 24.59 billion (63.09 percent) for capital expenditures, and Rs. 3.14 billion (8.06 percent) for financial transfers.

Revenue sources include Rs. 7.51 billion from internal revenue, Rs. 12.02 billion from federal revenue sharing, Rs. 501.7 million from federal royalties, Rs. 2.92 billion from local revenue sharing, Rs. 8.29 billion from federal financial equalization grants, Rs. 4.19 billion from conditional grants, Rs. 795 million from complementary grants, Rs. 744.6 million from special grants, and Rs. 2 billion from cash reserves.

The budget prioritizes good governance, public service, social justice, human development, sustainable infrastructure, and tourism promotion. It also focuses on higher education, healthcare, agricultural commercialization, skill development, job creation, innovation, and industrial productivity.

Key allocations include Rs. 107.2 million for agricultural and livestock development, Rs. 44.5 million for health screenings and programs, Rs. 150 million for MRI services at Lumbini Provincial Hospital, Rs. 1.10 billion for educational infrastructure, and Rs. 1.97 billion for education, youth, and sports programs. Additionally, Rs. 1.30 billion is allocated for the “One House: One Tap” water initiative, Rs. 739.7 million for irrigation, Rs. 133 million for energy development, and Rs. 1.35 billion for road bridge construction and studies.

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