The Bagmati Province government has reduced the size of the budget for the fiscal year 2083/084.

The budget presented by Economic Affairs and Planning Minister Prabhat Tamang in the provincial assembly on Monday, giving priority to physical infrastructure, does not include new and promising plans.

The provincial government has presented a budget of 66 billion 933 million rupees for the upcoming fiscal year. Which is 544 million rupees less than the current fiscal year. The government has presented a budget of 67 billion 477 million rupees in the assembly for the upcoming fiscal year.

According to Economic Affairs Minister Tamang, out of the proposed total allocated budget, 22 billion 961 million rupees, or 34.31 percent of the total budget, is for current expenditure and 65.69 percent, or 43 billion 971 million rupees, is for capital expenditure. The provincial government has estimated that it will receive Rs 30.15 billion 668 million from tax revenue, Rs 7.73 billion 99 million 12 thousand from other revenue, and Rs 15.31 billion 48 million from federal financial transfer.

It is estimated that Rs 12.76 billion 79 million 53 thousand will be received from the estimated accumulated fund savings and miscellaneous receipts of the current fiscal year, and the remaining amount will be received from the repayment of loans and investments from other institutions.

According to Minister Tamang, the government has set a target of reducing administrative expenses by 11 percent at once through this budget. ‘We have brought a program to cut expenses in the budget for the upcoming fiscal year.’ He claimed that the budget has been allocated by reducing the 14 ministries in Bagmati to 8 and the number of employees will also be reduced by more than 700. ‘We have given high priority to capital expenditure by focusing on development and infrastructure expansion rather than current expenditure.’ He said.

The highest budget is proposed for the Ministry of Physical Infrastructure Development with Rs 25.6 billion. Rs 7.1 billion has been allocated for the roads of the Provincial Road Master Plan. Minister Tamang said that the necessary funds have been ensured to complete the infrastructure development work started in the past. He said that the budget has been allocated for the feasibility study of the Bhimphedi Kulekhani Tunnel route and the feasibility study of the Metro Rail operation in coordination with the federal government to manage the increasing pressure in the Kathmandu Valley.

In the budget, Rs 6.71 billion has been allocated for the Ministry of Agriculture, Livestock, Forest and Environment, Rs 5.37 billion has been allocated for the Ministry of Industry, Tourism, Labor and Transport, Rs 9.62 billion has been allocated for the Ministry of Health and Social Development, Rs 8.90 billion has been allocated for the Ministry of Drinking Water, Energy and Irrigation, and Rs 727.757 million has been allocated for the Ministry of Internal Affairs, Law and Cooperatives. Minister Tamang did not mention the budget size of the Office of the Chief Minister and the Council of Ministers and the Ministry of Economic Affairs and Planning. Minister Tamang said that programs such as installing CCTV cameras for peace and security in the province will be taken forward from the budget and that Rs 10 million has been allocated for the insurance and social security fund of journalists within the province. Main priorities of the budget: Rs 200 million has been allocated under the Chief Minister's Innovation Program for the operation of information technology-related programs. Rs 200 million will be allocated for interest subsidy on loans to skill-oriented entrepreneurs returning from foreign employment to run businesses, Rs 2 billion will be allocated from the current fiscal year's budget to complete drinking water projects that have progressed more than 50 percent, Rs 1.7 billion for 157 drinking water projects covering all constituencies in the province, and the provincial capital ring road in Hetauda, ​​Gauritar Stadium, health center and integrated provincial administrative building will be taken forward as provincial pride projects, Minister Tamang said.

Under the Chief Minister's Housing Program, Rs 300 million has been allocated for the construction and distribution of safe housing to 1,000 poor families within the coming fiscal year, Rs 565 million for the construction of integrated administrative buildings, provincial assembly buildings and housing, and Rs 447 million for the regular maintenance of roads and bridges as per the 'first repair, then construction' policy. According to Minister Tamang, priority has been given to youth self-employment, entrepreneurship promotion, technical education, IT schools, hackathons, smart education and IT skill fellowship programs in the budget.

Estimated expenditure of 71 percent of the budget The provincial government has estimated that about 71 percent of the total budget allocated in the current fiscal year 2082/83 will be spent. According to the provincial government, it is estimated that out of the total budget of Rs 67.47 billion, Rs 7.37 billion, Rs 47.91 billion, Rs 18.76 billion or 71 percent will be spent.