Gandaki Province unveils budget of Rs 32. 97bn

GANDAKI: Gandaki Province government has unveiled an annual budget of Rs 32.97 billion in the province assembly meeting.

Minister for Economic Affairs and Planning, Takraj Gurung, presented the budget for the fiscal year 2024/25.

According to the budget proposal, over Rs 13.16 billion has been allocated for recurrent expenses and Rs 19.51 billion for capital expenses. This means 39.91% of the total budget is for recurrent expenditure and 59.19% for capital expenditure.

A budget of Rs 30 million has been earmarked for financial management.

The provincial government has set a target of collecting Rs 5.17 billion from internal revenue sources. Approximately Rs 7.64 billion will be received from the federal government's financial equalisation grants, Rs 9.61 billion from revenue sharing, Rs 3.11 billion from conditional grants, and Rs 481 million as royalties under supplementary grants.

Minister Gurung stated that the budget has been introduced with a focus on enhancing quality infrastructure and production, employment, income, social justice, development, and good governance.

Furthermore, Minister Gurung announced that the province government will raise Rs 1.70 billion through domestic borrowing.