First Business News Portal in English from Nepal
KATHMANDU: Local governments across the country have accelerated efforts to formulate the budget for upcoming fiscal year.
As they are mandated to introduce the budget on June 29, a month after the federal government unveilled the budget, local governments are busy making the budget.
They have been taking suggestions from the public and other stakeholders to be incorporated in the budget.
The local governments are making necessary preparations to bring the budget, policies and programs being consistent with the constitutionally-guaranteed authority, Local Government Operation Act, 2074, Local Level Annual Budget and Planning Guideline, 2074 BS, 15th five-year plan and the Sustainable Development Goals.
On May 29, Finance Minister Bishnu Prasad Paudel has announced Rs 1.647 trillion budget for the upcoming fiscal year 2021-22 that starts in mid-July with prime focus in controlling the COVID-19 crisis and economic recovery.
The federal budget has allocated 17.18 percent of the total budget or Rs 283014.7 million to the local levels.
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