Gandaki Province Government Announces Budget of NPR 32.99 Billion for Upcoming Fiscal Year

Pokhara. The Gandaki Province government has announced a budget of NPR 32.99 billion for the upcoming fiscal year. Presenting the budget in the Provincial Assembly, Finance Minister Jit Bahadur Sherchan informed that more than 60 percent of the budget has been allocated to the capital expenditure. An amount of NPR 20.02 billion 61 lakh 22 thousand has been allocated for capital expenditure, while NPR 12.72 billion 36 lakh 78 thousand, or 38.56 percent, has been allocated for current expenditure.

The budget presented by the government is NPR 1 billion more than the current year's. In the current fiscal year, the provincial government presented and is implementing a budget of NPR 31.97 billion. NPR 250 million has been set aside for financial management. The government has stated that current expenditure has been reduced by 1 percent compared to last year. This year, the salary of employees will be increased in the same proportion as done by the federal government, informed Finance Minister Sherchan. Out of the total budget, NPR 7.84 billion 82 lakh is expected to be received from the federal government under the financial equalization title. An estimated NPR 10.16 billion 47 lakh 48 thousand will be received from revenue sharing, and NPR 51 crore 48 lakh from royalty sharing.

Similarly, Finance Minister Sherchan estimates that NPR 3.93 billion 3 lakh will be received from conditional grants, NPR 55 crore 46 lakh from complementary grants, and NPR 39 crore 54 lakh from special grants. Gandaki Province will raise NPR 5.84 billion 18 lakh 52 thousand from internal resources, and an estimated NPR 2 billion from the current year's surplus will remain. Finance Minister Sherchan informed that NPR 1.75 billion will be mobilized as internal debt in the upcoming year.