The Far-Western Provincial Government is going to bring the budget of the coming Fiscal Year 2078-79 on June 20. According to the Ministry of Economic Affairs and Planning, the budget to be brought by the state government for the coming fiscal year will be around Rs. 29 billion.
It is stated that the budget to be brought by the state government for the coming fiscal year 078-79 will be less than the current fiscal year. The state government had brought a budget of Rs. 33.5 billion in the current fiscal year 2077/78. According to the ministry, the budget for the fiscal year 2078-79 will be between Rs. 28 to 29 billion.
According to the ministry, the size of the budget for the coming fiscal year will be reduced as the equalization grant and special grant received by the state government from the federal government will be reduced and the savings in the current fiscal year budget will also be reduced.
Khagendra Saund, information officer at the ministry, said that the current fiscal year’s budget would save Rs 1.5 billion to Rs 2 billion as development plans have been affected due to the long-running ban on corona epidemic. It is stated that Rs. 10.57 billion has been saved in the previous fiscal year 2076-77 due to the lockdown for the prevention of Corona epidemic.
According to Saund, information officer of the ministry, the budget expenditure will be more than 90 percent as the development work in the state has not been stopped even in the current fiscal year. As per the information given by the Ministry, the highest budget will be allocated to the Ministry of Physical Infrastructure Development in the coming fiscal year. The ministry has sent a budget ceiling of Rs. 8.43 billion. The budget of the Ministry of Physical Infrastructure Development is Rs. 11.5 billion in the current fiscal year.
The state government is preparing to allocate budget in the coming fiscal year by giving priority to the health sector. A budget of Rs 4.45 billion will be allocated for the Ministry of Social Development, said Saund. In the current fiscal year, the budget of the Ministry of Social Development is around Rs. 6 billion.
Similarly, the Ministry of Land Management, Agriculture and Cooperatives has received a budget ceiling of Rs. 2.34 billion. The Ministry of Industry, Tourism, Forest and Environment is preparing to allocate Rs 1.5 billion, the Chief Minister’s Office and the Council of Ministers Rs 1.13 billion, the Ministry of Internal Affairs and Law Rs 370 million and the Ministry of Economic Affairs and Planning Rs 310 million.
The federal government has allocated Rs. 8 billion 544 million towards equalization grant, Rs. 4 billion 193 million towards conditional grant, Rs. 613.5 million towards special grant and Rs. 1 billion 229.4 million towards supplementary grant for the coming fiscal year 2078-79. .
The state government has stated that it will receive a total grant of Rs. 14.58 billion from the federal government in the coming fiscal year by allocating Rs. 10.63 billion to the current account and Rs. 3.94 billion to the capital account.
It is stated that the budget for the coming year has been prepared by including Rs. 800 million from the internal revenue mobilization of the state government, the amount received from the National Natural Resources and Finance Commission for the distribution of royalties and the current year’s budget savings.