Gandaki Province government unveils budget of Rs 35.90 billion

GANDAKI: Gandaki Province Finance Minister Ramjee Prasad Baral (Jeewan) unveiled a budget of Rs 35.91 billion for the fiscal year 2022/23 at the Province Assembly meeting, on Wednesday. The annual budget has laid emphasis on health, agriculture and tourism, Minister Baral shared. He further said that the constitutionally-guaranteed fundamental rights, state directive principles, five-year periodic national plan, goals and objectives of the first five-year plan of Gandaki Province, Sustainable Development Goals, medium-term expenditure framework of Gandaki Province, province government policies and programmes and political commitments were taken into consideration while formulating the budget. Out of the budget appropriated for the upcoming fiscal year, Rs 13.268 billion (36.95%) has been allocated for recurrent expenditure, Rs 22.14 billion (61.66%) for capital expenditure and Rs 500 million (1.39%) for fiscal management. He informed that more than Rs 2.11 billion (5.88%) has been earmarked for fiscal transfer at the local level in the province. The province government is estimated to receive Rs 7.927 billion from the fiscal equalisation grant of the federal government, Rs 9..234 billion from revenue sharing, Rs 6.918 billion from conditional grant, Rs 837 million from matching grant, Rs 860 million from special grant, the Provincial Finance Minister said. Gandaki province has estimated to generate Rs 5.09 billion from Inland Revenue and Rs 325 million from royalty sharing. He further informed that the provincial government will raise insufficient resources worth amounting to Rs 2.71 billion through domestic borrowing and loans from the federal government. By RSS