KATHMANDU: Minister for Economic Affairs and Planning of Province 1, Indra Bahadur Angbo, presented a budget of Rs 39.73 billion for the fiscal year 2022/23.
Minister Angbo presented the budget in Wednesday’s meeting of the provincial assembly.
In the budget, Rs 3.15 billion has been allocated for fiscal transfer at local levels. Of the allocated expenditure, Province 1 government has targeted to finance Rs 4.98 billion through internal revenue, Rs 11.88 billion from revenue sharing, Rs 8.69 billion from conditional grants, Rs 920 billion from matching grants and Rs 256 billion from foreign grants.
The budget has given priority to expand tax limit by preserving the tax basis while determining the revenue policy and limits of tax for coming fiscal year, increasing tax participation, capacity building of human resources assigned in revenue administration and adopting revenue mobilization policy to control revenue leakage at the coordination of stakeholders.
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