KATHMANDU: Lumbini Province has announced a budget of Rs 37.38 billion for the upcoming fiscal year.
Provincial Minister for Economic Affairs and Planning Dhanendra Karki presented the budget in the Provincial Assembly on Monday.
Of the total allocation, Rs 11.11 billion, or 29.73 percent, has been allocated for recurrent expenditure, Rs 22.71 billion, or 60.77 percent, for capital expenditure, and Rs 3.55 billion, or 9.50 percent, for financial transfers.
According to Minister Karki, the province plans to finance the budget through multiple sources, including Rs 6.61 billion in internal revenue.
The province also expects to receive Rs 12.31 billion through revenue sharing from the federal government and Rs 308.4 million through royalty distribution.
Additionally, the budget estimates Rs 8.56 billion in fiscal equalisation grants from the federal government, Rs 4.45 billion in conditional grants, Rs 765 million in complementary grants, and Rs 633.4 million through special grants.
The province also plans to mobilise Rs 3.73 billion from cash reserves carried over from the current fiscal year, according to the budget statement.
