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June 26, Heitanda. The Bagmati State government is preparing a budget of 5.5 to 60 billion Khalifa for the next fiscal year 2081/82.
The provincial government, which has a budget of Rs 62.7 billion for the current fiscal year, said the budget may be reduced by Rs 700 million to Rs 800 million in the next fiscal year.
Laxmikumar Rimal, deputy secretary of the economic affairs and planning department, said: “We have reduced the ceiling by 11% and sent it to the ministry. The ministry said that the scheme is not enough and it needs to be supplemented. But it is a matter of political decision. We have asked that the scheme be included in the given ceiling.
Finance Ministry officials said the budget size will be reduced due to a reduction in both internal revenue and subsidies from the federal government. As of the 9th month of the current fiscal year 2080/81, only 41.43% of the revenue has been recovered.
Previously, the Ministry of Economy had decided to set a budget of around 55 billion. However, due to the high demand for plans from various ministries, the budget needed to be increased. Therefore, officials from the Ministry of Finance said that the budget could be as high as 60 billion.
In the current financial year, the state government has allocated $26 billion, 727 million for operations, $35 billion, 50 million, 63 million for capital and $500 million for financial arrangements.
The Ministry of Economic Affairs and Planning sent the budget cap to all 12 ministries and subordinate agencies of Bagmati on 13 Baisakh. After the seal was sent, the Ministry of Social Development was split into the Ministry of Youth and Sports in Bagmati.
The Youth and Sports Ministry, headed by Rama Ale Magar of the Communist Party of Nepal (Unified Socialist Party), has asked for a budget increase, sources in the Ministry of Economy said.
Today, a large number of people demanded plans from provincial ministries. Although the Ministry of Economy has entered the final stage of budget preparation, the flow of people demanding plans has not decreased.
“Everyone wants our plan to work. But not all plans can be included. Now, if the political leadership finally decides to increase the budget, it can be increased,” said Deputy Secretary Rimal.
Economic Affairs Minister Jagannath Tapalia said schemes linked to the living standards of common people will be included in next year’s budget.
Tapalia said the government has prioritized areas such as production and productivity growth, economic gains, entrepreneurship development, employment and skills. He said the budget will be balanced and proportionate. Minister Tapalia said budget spending will be advanced in a more equitable and long-term manner.
By the end of March, the state government earned only Rs 25,098,031 crore, including internal revenue, which is income and subsidies given by the central government.
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