Tuesday, June 25, 2019

Kathmandu metropolis presents Rs 15.5 billion budget

The Kathmandu Metropolis has brought a budget of Rs 15.50 billion – the largest budget among the metropolis – for the fiscal year 2019-20.
Metropolis deputy mayor Hariprabha Khadgi Shrestha presented the budget in the fifth convention of the Metropolis' Council today. “The budget for the coming fiscal year is an increase by 19 per cent compared to the current fiscal year's budget of Rs 13.2 billion budget,” she said, adding that the Metropolis has aimed at raising Rs 7.56 billion as its internal source, which is 52.58 per cent of the total budget. “Under the expenditure, Rs 1.55 billion is allocated for capital expenditure.”
The budget has prioritised infrastructure development as it has allocated Rs 7.43 billion, some 39 per cent of the total budget, to the sector.
Likewise, Kathmandu metropolitan city expects to raise Rs 7.5 billion – which is 52.58 per cent of the total budget – through revenue from its internal sources. “The budget has targeted to generate Rs 3.6 billion from local tax revenue, Rs 2.4 billion from non-tax revenue and Rs 1.5 billion as revenue sharing,” the deputy mayor said, adding that the metropolis has allocated Rs 594.3 million for office operation, and Rs 1.41 billion to pay salaries and allowances for its staff.
The budget has allocated Rs 1.34 billion for education sector, Rs 1.52 billion for social development, Rs 123 million for the public health sector, she added. “Similarly, the metropolis has allocated Rs 50.4 million for the Prime Minister Employment Programme.”
Likewise, deputy mayor said that a 'Mayor Ujjyalo' programme will be launched for maintaining lights on the major intersection of the valley roads. “Some major activities planned for the coming fiscal year,” she said, “are flyover, overhead bridges, construction of Metropolis Elderly Citizen Hospital, modernisation of Balaju Garden, production of energy from the waste collected in the Metropolis, cleaning of rivers.”
Deputy mayor Khadgi said the metropolitan city has not been able to meet its revenue target because it has not been able to bring big taxpayers under the tax net due the delay in formulating laws.
Thus, the Kathmandu Metropolitan City has proposed increasing the tax net in the new fiscal year 2019-20 rather than increasing the rates of taxation. 

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