All seven provincial govt announcing budget today

Kathmandu: All the seven provincial governments are set to unveil the budget for the fiscal year 2021/22 today. According to the Intergovernmental Financial Management Act, the budget has to be presented in the province assembly on June 15.

The central government has given four types of grants to seven provincial governments of Rs 103 billion. The provinces are getting about Rs 63 billion from revenue sharing.

Apart from this, there will be a savings budget of Rs 55 to 65 billion for more than one trillion rupees. Like last year, the expenditure situation of the provinces is low this year as well.

As of mid-April, all the seven provinces have not been able to spend even an average of 35 percent. Out of the budget of Rs 264 billion, only Rs 94 billion has been spent by mid-April. With an additional 25 percent budget spent in two months, the average expenditure of the provinces is estimated to be 60 percent.