Himal Press 
ITAHARI: The Koshi Province Government has presented a budget of Rs 35.87 billion for the fiscal year 2025/26.
Presenting the budget in the Koshi Provincial Assembly on Sunday, Minister for Economic Affairs and Planning, Ram Bahadur Magar, claimed that the new budget lays the foundation for development and prosperity in the province.
The budget reflects a 1.17% increase compared to last year’s budget of Rs 35.27 billion and Rs 12% more than the revised budget.
Of the total allocation, Rs 18.67 billion, or 52%, has been set aside for recurrent spending. Similarly, Rs 17.1 billion, or 47.7%, has been earmarked for capital spending and Rs 100 million, or 0.3%, for financial management.
The new budget has earmarked Rs 4.7 billion for fiscal transfers to local governments in the province.
The provincial government estimates to raise Rs 5.5 billion from the provincial government’s internal revenue; Rs 12.39 billion to be received from revenue sharing, Rs 8.98 billion from equalization grants, Rs 4.57 billion from conditional grants, Rs 391.7 million from complementary grants and Rs 557.2 million from special grants to finance its expenses. Likewise, it aims to mobilize Rs 350.6 million from royalty, while it aims to meet the resource shortfall of Rs 3.13 billion through cash reserves.
The budget has allocated Rs 10.57 billion for infrastructure development, Rs 4.73 billion for drinking water, irrigation, and energy, Rs 2.18 billion for agriculture and industry, Rs 2.97 billion for tourism, forestry and environment, Rs 2.05 billion for education, science, and social sectors, Rs 3.51 billion for health and Rs 960 million for peace and security.
