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For the next fiscal year 2082/83, the federal government will send five trillion 82 billion 83 rupees to the state and local levels through financial transfers. Deputy Prime Minister and Minister of Finance Bishnu Prasad Paudel said that this amount will be transferred to the provincial and local levels through revenue sharing and grants in the budget for the next financial year presented at the joint meeting of the Federal Parliament.
'Based on the recommendations of the National Natural Resources and Finance Commission, 60.66 billion rupees will be transferred to the provinces and 88.97 billion rupees to the local level for financial equalization grants,' he said.
Similarly, supplementary grants of 3.28 billion rupees have been allocated to the province and 10.6 billion rupees to the local level for the implementation of infrastructure projects. Three billion 27 million rupees have been allocated for the province and nine billion 78 million rupees for the local level. Finance Minister Paudel also said that arrangements have been made to transfer conditional, special and supplementary grants based on performance.
While presenting the budget statement, Finance Minister Paudel also said that it is estimated that one trillion 65 billion rupees will be transferred from revenue distribution to the state and local levels for the next financial year. In this way, it is estimated that in the coming financial year, the federal government will send five trillion 82 billion 83 billion rupees to the state and local levels through financial transfer and revenue sharing.
