Koshi Province Government Prepares Budget Exceeding 38 Billion Rupees

Kathmandu. The Koshi Province government is preparing to present a budget of approximately 2 billion more than the current fiscal year for the upcoming fiscal year 083/4.

Due to a decrease in budget expenditure percentage in the current fiscal year, cash reserves have increased, and the federal government has also increased grant amounts, so a budget of around 38 billion may come, informed Vidur Kumar Lingthep, Minister for Economic Affairs and Planning of Koshi Province. He said that policy and programs are being brought with high priority to education, health, agriculture, physical infrastructure, and information technology to increase public trust in the province, and preparations are underway to bring the budget by prioritizing those areas.

Minister Lingthep mentioned that after the federal government brought policies of 3 percent equalization fee on education and health and 5 percent VAT on electricity consumption exceeding 50 units, the provincial government is also going to bring some relief programs keeping in mind the lower middle class and landless people.

While the budget expenditure was up to about 80 percent last year, it is estimated that only about 70 percent of the budget will be spent in the current fiscal year. It is reported that as of the end of Baisakh, there was a cash reserve of approximately 12 billion 81 crore 41 lakh rupees in the consolidated fund of the Koshi Province government. The Koshi Province government had presented a budget of 36 billion 2 crore 2 lakh rupees for the current fiscal year.