First Business News Portal in English from Nepal
KATHMANDU: The government has earmarked a total amount of Rs 103.7 billion to the provinces through fiscal transfer. Of the total transfer, Rs 74.227 billion has been allocated for recurrent expenditure while Rs 29.48 billion has been allotted for capital expenditure.
The federal government transfers the budget to the provinces and local levels in four different titles: equalization grants, conditional grants, special grants and matching grants on the basis of their expenditure need, their capacity in generating revenue and the efforts made by them.
According to the annual budget for the Fiscal Year 2021/22, Province 1 will receive the highest amount of Rs 16.293 billion followed by Lumbini Province Rs 15.612 billion.
Karnali Province, the largest in terms of area, is receiving Rs 15.612 billion and Bagmati Province will receive Rs 14.726 billion as fiscal transfer from the federal government. Gandaki is the one to receive the lowest amount of fiscal transfers of Rs 13.297.
Similarly, Finance Minister Bishnu Poudel said that he has allocated Rs 14.580 billion to be transferred to Sudur Paschim Province and another Rs 13.903 billion for Province 2.
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