Lumbini Province Brings Budget Of Rs 42.63 Billion For FY 2079/80

June 16, 2022 | Investopaper

The Lumbini state government has brought a new budget of Rs 42.63 billion for the fiscal year 2079/80. Minister for Economic Affairs and Cooperatives Krishna Dhwaj Khadka presented a budget in the state assembly meeting on Wednesday. The budget for the current fiscal year is Rs. 40.95 billion. 

Out of the total budget for the fiscal year 2079/80, Rs 13.32 billion or 31.26 percent has been allocated for the current expenditure and Rs 24.47 billion or 57.41 percent for the capital expenditure. Likewise, 4.83 billion has been allocated for financial transfer at the local level. The share of financial transfers in the total budget is 11.33 percent.

The budget has been allocated for the construction of permanent capital of the state in  Dang, upgrading of Lumbini Provincial Hospital,and Rampur-Rolpa road as a project of state pride.

The budget includes implementation of projects of state pride along with agriculture, education, health, promotion of tourism through development of infrastructure, arts, culture and infrastructure based on local demand, skill development and employment growth of youth, women, Dalit and poor, promotion of small and cottage industries, irrigation, drinking water, sanitation, forest environment and disaster management, peacekeeping and good governance.

Out of the total budget for the fiscal year 2079/80, only 7.27 percent is projected to come from internal sources. Lumbini has set a target of collecting Rs 3.10 billion from the internal revenue. Similarly, Rs. 15.35 billion will be received from revenue sharing, Rs 700 million from royalty distribution, Rs 18.47 billion from financial equalization grant, conditional grant and special grants. The budget statement states that Rs 1 billion will be borne from internal debt.

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