Province 1 Govt Table Budget Worth of Rs 40.89 Billion for FY 2077/078:
The Province 1 government has made public the budget for the coming fiscal year giving priority to agriculture, employment, and health. Minister for Economic Affairs and Planning of Province 1, Indra Bahadur Angbo, presented a budget of Rs 40.89 billion in the state assembly on Monday for the coming fiscal year 2077/78.
This year's budget is about Rs 2 billion less than the previous fiscal year. In the previous fiscal year, the state government had allocated Rs 42.20 billion. In the budget presented by Minister Angbo in the state assembly on Monday, 18.93 billion 49 million 93 thousand 46.29 percent is on the current side and 21.92 billion 5 million 4 thousand or 53.71 percent on the capital side.
A budget of Rs. 40 million has been allocated for financial management. Similarly, Rs. 2 billion 888.82 million 45 thousand has been allocated.
The provincial government estimates that the budget will be Rs 4.75 billion from internal sources, Rs 10.35 billion from revenue distribution, Rs 15.11 billion from grants, and Rs 6 billion from the current fiscal year.
Not only the resources received from the federal government for the forthcoming budget have been reduced but the revenue collection of the province has also been affected in the current fiscal year. The state government has estimated that the internal revenue will rise to Rs 3.86 billion, but it has shrunk to Rs 100 billion.
It has been mentioned in the budget speech that one billion equalization grants will be given to each municipality at the rate of Rs 5 million. Similarly, Rs. 826.95 million will be provided in the revenue distribution as provided in the constitution.
The provincial government will provide Rs 1.40 billion to each municipality at the rate of Rs 10 million. A budget of Rs. 500 million has been allocated to develop the Corona Treatment Center in Biratnagar as a contagious disease treatment center in the budget of the fiscal year 2077/07 made public by the government today.
Minister for Economic Affairs and Planning Angbo said that adequate resources have been allocated for the Corona Public Security Fund. A budget of Rs. 15 million has been allocated for the senior citizen dental smile program in the health sector itself.
3.83 billion in agriculture:
The state government has allocated Rs 3.83 billion in the agriculture sector. The state government has allocated this budget saying that food and security will be strengthened for sustainable development.
In the budget presented by the Minister for Economic Affairs and Planning Angbo, Rs. Similarly, Rs. 105 million has been allocated for increasing the productivity of maize.
To encourage the production of Chaite Dhan, Rs. 80 million has been allocated for the purchase of dior, Rs. 135 million for the construction of small and medium cold storages and Rs. 165 million for global market promotion of tea. 140 million has been allocated for the development of crops and livestock and continuing the budget given since last year.
Rs. 60 million has been allocated for organic manure to the livestock farmers. A program will be implemented targeting Rs. 160 million for special production area, piggery, milk, goat rearing, cooperatives, and community.
A program to respect and encourage farmers and agriculture has been mentioned in the budget. A budget of Rs. 84.4 million has been allocated for the organic province-building campaign and organic farming program, said Minister Angbo. Rs. 130 million has been provided for the operation of powdered milk factory and Rs. 80 million has been provided for one orchard and one orchard program.
2 billion more for drinking water and sanitation, 1 billion for tourism promotion:
A budget of Rs 2.5 billion has been allocated for drinking water and sanitation.
The Mundhum Trail footpath has been given priority by the provincial government. A budget of Rs. 1.19 billion has been allocated for the promotion and development of tourism.
One District One Product program has been prioritized to create employment opportunities. Industries using Nepali workers will be encouraged. Minister for Economic Affairs and Planning Angbo informed that Rs. 205 million has been allocated for the industrial sector.
A budget of Rs. 1.45 billion has been allocated for forest and environment. The budget also states that preparations for the international investment conference will be started by holding an indigenous investment conference to promote investment. The project bank has been given priority by the provincial government.
A budget of Rs. 62 million has been allocated for women empowerment in partnership with the municipalities.
It has also been mentioned that a special budget has been provided for the development of professionalism by making Dalit empowerment law. The budget has also included starting a self-reliant daughter program. The government has cut budget spending.
