Kathmandu: The Kathmandu Metropolitan City (KMC) has presented a budget of Rs 25.41 billion for the upcoming fiscal year 2022/023.
Deputy Mayor Sunita Dangol presented the budget in today's municipal assembly. The new budget is seven billion more compared to the current fiscal year. The KMC had unveiled the budget of Rs 18.95 billion for the current fiscal year.
A highest amount of budget (Rs 11.8 billion) has been allocated for the infrastructure development for coming fiscal year. A total of Rs 4.68 billion has been proposed for office expenditure, which is 20 per cent of the total budget of the KMC.
Similarly, Rs 502 million has been allocated for economic development programmes, said Deputy Mayor Dangol.
For the resource management, apart from Rs 22.36 billion to be deposited in the reserve fund of the KMC, a total of Rs 3.5 billion would be received for social security allowance and different other grants from the federal and province governments.
The KMC tabled its budget today (Asar 10) as per the constitutional provision.