Lumbini Province Begins Preparations for Upcoming Fiscal Year Budget Amidst Revenue Shortfalls
Summary
Lumbini Province has initiated preparations for the 2083/084 fiscal year budget amid internal revenue shortfalls, forming subcommittees to focus on key revenue sectors and emphasizing a realistic and inclusive budget with possible expenditure ceiling reductions.
Key Points
- Lumbini Province has started preparing the budget for fiscal year 2083/084, involving subcommittees from Forest, Transport, and Agriculture ministries to assess revenue sources.
- The Ministry of Finance and Planning is inviting suggestions for revenue system reforms and drafting the Economic Act for the upcoming fiscal year.
- Due to internal revenue shortfalls and reduced budget performance in previous years, there is a possibility of reduced budget ceilings for provincial ministries in the new fiscal year.
- The Lumbini Province Government has spent only 27% of its allocated budget by the eighth month of the current fiscal year, indicating weak budget implementation.
