All seven provinces on Saturday unveiled their annual budgets for the upcoming fiscal year of 2024-25 beginning mid-July, mainly prioritising developing physical infrastructures, enhancing agricultural production and expanding the social safety net.

The provincial executives presented budgets two weeks after the federal government unveiled the national budget for the next fiscal year of 2024-25. The local units will shortly present their respective annual budgets as per the legal provisions of the federal set-up.

The Koshi provincial government led by CPN-UML leader Hikmat Kumar Karki presented a Rs35.27 billion budget in the provincial assembly. Minister for Economic Affairs and Planning Ram Bahadur Magar slashed the budget size by around Rs1 million compared with the current fiscal year. The budget has focused on agriculture, physical infrastructure, industry, service sector, education, health and tourism.

Karki was also the chief minister when a Rs35.24 billion budget was presented last year in Koshi through ordinance as it was almost certain that the provincial assembly would not pass the policies and programmes as well as the budget. The Karki government was a minority government then.

In Madhesh, a total budget of Rs43.89 billion has been presented during the provincial assembly meeting. Finance Minister Bharat Prasad Sah presented the budget for the next fiscal year allocating Rs16.7 billion current expenditure and Rs27.89 billion capital expenditure.

The Madhesh government announced that the Nepali year of 2082 BS (2025-26) would be observed as a ‘tourism year’ in the province under the name of ‘Ghumau Madhesh, Bujhau Madhesh’—‘let’s tour and understand the Madhesh’.

Meanwhile, the Bagmati province government unveiled a total budget of Rs64.54 billion, which is around Rs2 billion more that the budget of the current fiscal year. Minister for Economic Affairs and Planning Jagannath Thapaliya presented the budget allocating Rs26.10 billion under current expenditure and Rs36.93 billion under the capital expenditure.

The Bagmati government prioritises education, health, agriculture and tourism in the new budget.

In Gandaki, a total budget of Rs32.97 billion has been unveiled for the fiscal year 2024-25. The projected budget for the upcoming fiscal year is around Rs450 million less than the current fiscal year’s budget size.

Minister for Economic Affairs Takraj Gurung presented the budget at the province assembly meeting by allocating Rs13.16 for recurrent expenditure and Rs19.51 for capital expenditure. The annual budget estimates to collect Rs5.17 through the internal mobilisation of the revenues. The budget projects to receive around Rs7.63 billion under the fiscal equlisation fund, Rs9.61 billion under revenue distribution, Rs481 million under royalty distribution, Rs3.10 billion under the conditional grants, Rs11.9 million matching grant and Rs655.5 million under the special grants from the federal government.

While presenting the budget, Minister Gurung said that the provincial government would take around Rs1.70 billion internal loan if required. The Gandaki government also allocates Rs1.16 billion budgets of fiscal transfer to the local units under four different grants.

Similarly, the Lumbini government unveiled a Rs38.97 billion budget—28 percent recurrent expenditure, 63 percent capital expenditure and approximately eight percent fiscal transfer—for the next fiscal year.

Minister for Economic Affairs and Planning Chet Narayan Acharya presented the budget at the province assembly meeting, laying focus on reviving an ailing economy. The budget aims to create employment and self-employment opportunities by prioritising the health, education, physical infrastructure, agriculture and tourism sectors.

In Karnali, a total budget of Rs31.41 billion has been presented for the next fiscal year, down Rs2 billion from the current fiscal year. Economic Affairs and Planning Minister Mahendra KC said Rs18.75 billion has been set aside for capital expenditure and Rs7.57 billion for current expenditure.

The new budget has prioritised ‘Chief Minister Employment Programme’ by allocating Rs1.16 billion. The Karnali government expects that around 16,000 people will get employment opportunities under the programme. The government has allocated Rs1.10 billion budget to develop infrastructures of 370 community schools in the upcoming fiscal year.

Likewise, the Sudurpaschim government unveiled a Rs31.62 billion budget for the next fiscal year, around Rs2 billion more than the budget of the current fiscal year.

Minister for Economic Affairs and Planning Surendra Bahadur Pal presented the budget allocating Rs17.53 billion for capital expenditure and Rs11.7 billion for recurrent expenditure. The budget mainly gives continuation of the current year’s programmes. The budget places top priority on physical infrastructure development and agriculture.

The Sudurpaschim government allocates Rs100 million for start-up programmes targeting foreign employment returnees to promote entrepreneurship.