National Natural Resources and Finance Commission Recommends Over NPR 151 Billion in Fiscal Equalization Grants for Provinces and Local Levels
Summary
The National Natural Resources and Finance Commission has recommended NPR 151.7078 billion in fiscal equalization grants for Nepal's provinces and local governments for the upcoming fiscal year, with allocations focusing on minimum, formula-based, and performance evaluation-based grants.
Key Points
- The National Natural Resources and Finance Commission recommended NPR 151.7078 billion as fiscal equalization grants for provinces and local governments.
- NPR 61.5032 billion is allocated for provincial governments and NPR 90.2046 billion for local governments.
- Minimum grants for provinces and local governments are set at NPR 15.3758 billion and NPR 30.83 billion respectively for the upcoming fiscal year.
- The fiscal equalization grant uses criteria including Human Development Index, inequality, infrastructure development, and expenditure needs for allocation.
- 40 local governments receiving less than NPR 70 million will have their grants increased by reallocating portions from Metropolitan Cities' formula-based grants.
