Budget allocated for provincial and local levels as grants

KATHMANDU: The government has announced the budget to be transferred to the provincial and local levels as grants in the next fiscal year 2023/24. According to the budget statement read out by Finance Minister Prakash Sharan Mahat, Rs 146 billion has been allocated as equalisation grants while Rs 227 billion has been allocated under conditional grants for the local and provincial levels for the next fiscal year. Similarly, a total of Rs 58.67 billion has been allocated for the provincial levels and Rs 87.35 billion for the local level for fiscal equalisation grants based on the recommendation of the National Natural Resources and Fiscal Commission. As a supplementary grant, Rs 6.22 billion has been allocated for the provincial level and Rs 7.5 billion for the local level. Under a special grant, Rs 4.46 billion has been allocated for the provincial level and Rs 8.73 billion for the local level. Likewise, a total of Rs 173.92 billion will be transferred to the provincial and local levels through revenue sharing. Finance Minister Mahat said the conditional, supplementary and special grants will be transferred only on the basis of work progress. By RSS READ ALSO:

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