Laxmi Capital News
All 7 provinces table budgets, programs for FY201819

All seven federalprovinces have tabled their budgets and programs for the next fiscal year intheir respective provincial assemblies. Province 3 has the highest budgetamount of Rs 35.61 billion while Gandak Province has tabled a budget of Rs24.02 billion, the lowest. 

Karnali Province andProvince 1 are at the top in allocations for development activities with 75percent of their budgets going for such activities. Only 25 percent of thebudgets are for recurrent spending.

All the provinces haveallotted at least roughly half their budgets for development work while twoprovinces—Karnali and Province 1-- have allotted 75 percent for capitalspending. This is a change from the federal budget which allocates hardly afourth of the total for development work. About two-thirds of the total budgetis for meeting regular expenditures.

Asar 1st (mid-June) isthe mandatory date for all provinces to table their budgets and programs forthe next fiscal year in their respective assemblies along with their annualincome and expenditure plans . This is the first time they have tabled full-fledged provincial budgets, following the provincial elections held last year.

Province 1 has puthousing and infrastructure under top priority with an allocation of Rs 9.50billion. Roads and infrastructure development are top priorities for theprovinces and some of them also allocated budgets for parliamentary developmentfunds, following the example of the federal parliament.

Tourism and agricultureare top priorities of Province 3 while Gandak Province has made roads toppriority with an allotment of Rs 3.20 for the sector. One constituency onestandard road is another program of the province. Each province has a budget ofRs 21 million for roads.

Likewise, Province 5has allotted Rs 8.92 billion for infrastructure development including Rs 705million for the parliamentarian development fund. Allocation for agricultureand tourism is 2.13 billion while the social development ministry has a budgetof Rs 2.19 billion. Karnali Province has allotted Rs 50 million for each of the24 constituencies in the province through a 'People's Road Program' whileProvince 7 has set aside Rs 64 million for each constituency to build a sportsground.

Source: MyRepublica, 16th June 2018

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