Sudurpaschim province in final phase of budget preparation for upcoming fiscal year

Dhangadhi: The Sudurpaschim Provincial Government has reached the final stage of preparing its budget for the upcoming fiscal year. The process is nearing completion, in line with the legal provision requiring the budget to be presented in the Provincial Assembly on Asad 1.

Minister of State for Economic Affairs Prakash Bahadur Bam stated that all ministries are currently engaged in budget preparation, with the process being carried out on a ministry-wise basis. The provincial government’s budget for the current fiscal year stands at Rs 33.45 billion 51 million.

Minister of State Bam indicated that the budget for the upcoming fiscal year may decrease due to reduced financial allocation from the federal government for the fiscal year 2083/84. He noted that priority is being given to completing ongoing projects that remain unfinished.

He further stated that the overall size of the provincial budget is unlikely to increase due to the reduced federal allocation. “As far as the size of the budget is smaller than before,” he said.

The provincial government has already outlined in its policy and program that it will not allocate funds for development projects costing less than Rs 2.5 million, except for the completion of ongoing projects.

It has been stated that if projects costing less than Rs 2.5 million need to be implemented, they will be carried out at the local level through financial transfers. Similarly, the government has adopted a policy that it will not implement provincial projects through consumer committees and will not allocate budget in the name of individuals or firms.

Speaking in the Provincial Assembly a few days ago, Minister for Economic Affairs Bahadur Singh Thapa expressed his commitment to preparing the budget with broad participation.