First Business News Portal in English from Nepal
KATHMANDU: The government has announced the budget that will be distributed as grants for the new fiscal year to the provinces and local levels.
According to the budget statement read out by Finance Minister Dr. Prakash Sharan Mahat, Rs 146 billion has been designated as an equalization grant, and Rs 227 billion has been designated under conditional grants to the local level and provinces for the upcoming fiscal year.
Similar to this, a total of Rs 58.67 billion has been allocated to the province and Rs 87.35 billion to the local level for fiscal equalization grant based on the recommendation of the National Natural Resources and Fiscal Commission.
6.22 billion rupees and 7.5 billion rupees, respectively, have been set aside as supplemental grants for the provinces and local government, respectively. The provinces will receive Rs 4.46 billion under the special grant program, while local governments will receive Rs 8.73 billion.
Similar to this, a total of Rs 173.92 billion will be distributed to the provincial and local levels via revenue sharing. Conditional, supplemental, and special grants, according to Dr. Mahat, will only be distributed based on how well the work is going.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
© Copyright 2020. FiscalNepal.com. Website Design and Developed by Genesis Web Technology