Lalitpur Metropolitan City Presents Budget of NPR 7.48 Billion for Fiscal Year 2083/84

Kathmandu. Lalitpur Metropolitan City has presented a budget of a total of NPR 7.48 billion for the upcoming fiscal year 2083/84. Deputy Mayor Manjali Shakya Bajracharya presented the budget statement at the ninth municipal assembly of the metropolitan city.

The presented budget is roughly the same as the total allocated budget of NPR 7.47 billion for the current fiscal year. Deputy Mayor Bajracharya stated that the budget has been formulated to address the growing expectations and multifaceted needs of the city dwellers amidst limited resources and means.

Capital NPR 4.23 Billion and Current NPR 3.25 Billion
Out of the total budget allocated by Lalitpur Metropolitan City for the upcoming fiscal year 2083/84, 56.6 percent has been allocated for capital expenditure and 43.4 percent for current expenditure.

The metropolitan city has allocated NPR 3.25 billion 18 million 53 thousand for current expenditure, which is approximately NPR 280 million (9 percent) more than the current fiscal year. The metropolitan city has stated that the increase in current expenditure is due to mandatory obligations such as salary increments for employees, incentive allowances, and social security allowances.

Similarly, NPR 4.23 billion 69 million 27 thousand has been allocated for capital expenditure for the upcoming year. It is estimated that capital expenditure will decrease by 6 percent compared to last year due to lower budget received from the federal and provincial governments under the capital expenditure heading.

Internal resources and grants received from the federal government have been made the main financial basis for Lalitpur Metropolitan City's budget for the upcoming fiscal year 2083/84. According to the revenue estimates published by the metropolitan city, a total of NPR 1.36 billion 53 million 90 thousand is expected to be received from the federal government through financial equalization, conditional, and complementary grants. Similarly, NPR 176.39 million is projected to be received from the Bagmati Province government.

The budget statement mentions that NPR 3.35 billion 50 million will be collected from the metropolitan city's internal revenue, land registration fees, and entertainment tax, and the deficit of NPR 1.47 billion will be covered from cash reserves.