Gandaki Province Government Presents Budget Amidst Funding Challenges

Pokhara. The Gandaki Province government is presenting the budget for the upcoming financial year in the parliament. The government, which has implemented 8 budgets so far, has not been able to find resources to stand on its own feet. Finance Minister Jit Bahadur Sherchan said that it is still dependent on grants from the federal government.< /p>

In the current year as well, the government has stated that it will generate only about 3 billion in internal income. A large portion of the budget of about 32 billion depends on grants from the federal government, while the program to take internal loans included in the budget has not been implemented.< /p>

He said that although the need for expenditure has increased, internal revenue has not expanded as expected, and policy reforms are necessary for this.< /p>

'A large part of the province government's resources is still dependent on grants received from the federal government,' he said, 'Lack of expected investment in productive sectors, slow industrialization, low attraction of youth to agriculture, and climate change-induced natural risks are the main obstacles to provincial development.'< /p>

He mentioned that the inability to increase capital expenditure while keeping current expenditure within limits and the limited scope of internal revenue are the main challenges. He said that the government has decided on a strategy to focus investment in productive sectors in the coming year.< /p>

Sherchan pledged to promote integrity and transparency in the governance system to make public services fast, efficient, accessible, and effective.