Lumbini proposes to spend Rs 40.48 billion in FY2023/24

LUMBINI: The Lumbini Province Government has proposed to spend Rs 40.48 million in the fiscal year 2023/24.

Dhan Bahadur Maski, Minister for Economic Affairs of the Lumbini Province Government, presented the budget for the fiscal year 2023/24 in the Lumbini Province Assembly on Friday.

The provincial government has allocated Rs 15.63 million for recurrent expenditure and Rs 23.25 billion for capital expenditure. Additionally, it has set aside Rs 3.58 billion for fiscal transfers to local units within the province.

The province government has announced plans to create employment opportunities for 200,000 unemployed individuals within two years. Furthermore, the provincial budget outlines the creation of the Chief Minister Economic Development Fund, in partnership with the government, private sector, and development partners. The province government has allocated Rs 1 billion for the implementation of the Chief Minister Economic Development Program.

In line with promoting small and medium enterprises, the province government has dedicated Rs 20 million for job creation through their development and promotion. The smart agriculture program will continue, with Rs 100 million allocated for its implementation.

Moreover, Rs 61.8 million has been earmarked for the promotion of indigenous crops, and Rs 50 million for the advancement of livestock farming.

The province government has also formulated a policy for utilizing land along the right-of-way of electricity transmission lines. The budget has allocated Rs 20 million for the cultivation of non-timber plants on such land.