Kathmandu. For the upcoming fiscal year 2082/83 BS, the federal government has decided to send Rs 582.83 billion through financial transfers to the provinces and local levels. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel said that the budget for the upcoming fiscal year presented in the joint session of the federal parliament would be used as financial transfer to the provinces and local levels through revenue sharing and grants.
“Based on the recommendation of the National Natural Resources and Finance Commission for financial equalization grant, Rs 60.66 billion will be transferred to the province and Rs 88.97 billion to the local level,” he said. ’
Similarly, rs 3.28 billion has been allocated to the province and Rs 10.6 billion to the local levels for the implementation of infrastructure projects to the state and local levels. Rs 3.27 billion has been allocated for the province and Rs 9.78 billion for the local level. Finance Minister Poudel said arrangements have been made to hand over conditional, special and supplementary grants on the basis of performance.
Presenting the budget statement, Finance Minister Poudel said rs 165 billion would be transferred from revenue sharing at the provincial and local levels for the next fiscal year. In the fiscal year 2019/20, the federal government is expected to send Rs 582.83 billion to the provincial and local levels through financial transfer and revenue sharing.
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