The Koshi provincial assembly adopted the budget for 2024/25 – myRepublica

BIRATNAGAR, June 22: The Koshi Provincial Assembly has approved the budget for the upcoming fiscal year 2024/25. The budget was presented to the regional council by the voivodeship government on June 15. The budget was adopted by a majority of local assemblies at Saturday’s meeting.

The approved budget is 35.279 billion rupees. Of this, Rs 14.47 billion was allocated for current expenditure and Rs 16.20 billion for capital expenditure. In addition, R2 million was allocated for financial management and R4.58 billion was allocated for financial transfers to the local level. The budget indicated that R3 billion had been allocated to repay federal subsidies from current expenditure.

The budget also includes provisions for internal revenue collection of Rs 4.98 billion, foreign grant revenues totaling Rs 12.40 billion, financial equalization grants received from the federal government amounting to Rs 8.94 billion, revenue support of Rs 4 .16 billion rupees, matching grants of 655 rupees. million dollars and special grants in the amount of 781 million rupees.