Bagmati government announces a budget of Rs. 70.93 billion

KATHMANDU: The Bagmati province government has introduced a budget of Rs. 70.93 billion for the coming fiscal year.

Minister for Economic Affairs and Planning Shalikram Jamarkattel announced the budget in the provincial assembly on Wednesday.

Out of the total budget, 19.24 billion has been allocated for current expenditure. Similarly, the government has allocated Rs. 41.56 billion for the capital budget and Rs. 8.35 billion for financial transfer.

Likewise, Minister Jamarkattel announced that Rs 2 billion has been allocated for financial management.

Out of the total budget, 27 percent has been allocated for current and 58 percent for capital, 11 percent for financial transfer and 2 percent for financial management.

The highest source of the budget of Rs. 71 billion is expected to be the federal government’s grant assistance. The government will mobilize Rs. 21.68 billion of the total budget from the federal government.

Similarly, Rs 26.97 billion will be mobilized from tax revenue and Rs 6.22 billion from other revenue.