Lumbini Province Prepares Smaller Budget for Fiscal Year 2081/082
Summary
Lumbini Province plans to introduce a smaller budget of around 35 billion rupees for fiscal year 2081/082 due to underperformance in internal revenue collection, with efforts underway to reform revenue systems and improve budget spending.
Key Points
- Lumbini Province government is preparing a smaller budget of around 35 billion rupees for fiscal year 2081/082, down from 38.91 billion in the current year.
- The budget reduction is mainly due to failure to collect internal revenue as expected, with only 1.5 billion rupees collected against a target of 4.88 billion in the current fiscal year.
- Three sub-committees under the Provincial Revenue Advisory Committee are working to identify new revenue sources and reform the revenue collection system to improve effectiveness and transparency.
- By the end of Chaitra, only about 34.31 percent of the current fiscal year's budget was spent, attributed to protests and elections, with plans to increase spending in Baisakh.
