State-5 govt. brings budget of Rs 36.35 billion

The State 5 government has unveiled a budget of Rs 36.35 billion for the coming fiscal year 2020/21. The budget gives priority to health, tourism and employment in order to uplift the economy affected by COVID-19.

Chief Minister of the state, also the Minister for Economic Affairs and Planning, Shankar Pokhrel, on Monday presented the budget for the coming fiscal year in state assembly meeting. The budget for the next fiscal year is less by around Rs 50 million as compared to the budget of the current fiscal year.

The recurrent budget is Rs 12.59 billion (34.64%) while Rs 18.61 (51.22) is allocated for the capital expenditure. Similarly, Rs 5.14 billion has been allocated for fiscal transfer to local levels. As per the budget, Rs 2.3 billion would be collected through domestic revenue and Rs 11.34 billion from revenue sharing.

It is stated that the state government would seek resources with federal government if insufficient in course of implementing projects, kept in priority.

The budget has projected that seven per cent economic growth rate would be achieved in coming fiscal as economy would be dynamic from the investment in different sectors including agro, tourism, irrigation, drinking water, road and education.

Chief Minister Pokhrel said that the economic growth rate of the state would be limited to around two per cent this year as all sectors of economy have been affected due to economic crisis following coronavirus pandemic.

He further said that the budget has brought the programmes creating opportunities of production and employment. The state government has also allocated budget to extend the service of other hospitals as per the policy of expanding the service by upgrading District-based hospitals into 50-bed hospital to increase access of general people to quality and efficient health service.