KATHMANDU: Bagmati Province has announced a budget of Rs 66.93 billion for the upcoming fiscal year.
Provincial Minister for Economic Affairs and Planning Prabhat Tamang presented the budget in the Provincial Assembly on Monday.
Of the total allocation, Rs 22.96 billion, or 34.31 percent, has been allocated for recurrent expenditure, while Rs 43.97 billion, or 65.69 percent, has been allocated for capital expenditure.
According to Minister Tamang, the province plans to finance the budget through multiple revenue sources.
The budget estimates Rs 30.15 billion will be generated through tax revenue and Rs 7.73 billion through other revenue sources.
In addition, Bagmati Province expects to receive Rs 15.31 billion through federal fiscal transfers. The government has also projected Rs 12.76 billion in savings from the consolidated fund of the current fiscal year.
The budget further estimates that Rs 960 million will be received through repayment of loan investments from other institutions, according to the minister.
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