Tuesday, 23 April, 2024
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NNRFC Recommends Rs 161 billion Equalization Grants



nnrfc-recommends-rs-161-billion-equalization-grants

By Radha Chalise, Kathmandu, March 26: The National Natural Resources and Fiscal Commission (NNRFC) has recommended distributing fiscal equalization grants provided by the state and local for the fiscal year (FY) 2022/23.

The commission has recommended Rs 161.6 billion in total both for the provinces and local levels. It has recommended Rs 61.4 billion for the provinces and Rs 100.2 billion for the 753 local levels.

The commission informed that it has recommended at least Rs 67.5 million inclusively for each province. The commission has recommended at least Rs 41.8 billion as of fiscal equalization grants. In this, Rs 15.3 billion is recommended for the provincial level and Rs 26.4 billion for the local level.

In this, Province 1 is listed as getting a higher amount of minimum fiscal equitable grants. The commission has recommended Rs 2.8 billion for Province 1

Bagmati Province is recommended to receive Rs 2.4 billion. Similarly, Lumbini Province is recommended to receive Rs 2.4 billion. The other provinces are recommended to receive below Rs 2 billion.

The commission has recommended Rs 113.8 billion for fiscal equalization grants. Provinces will receive Rs 43.77 billion and locals will receive Rs 70.08 billion.

The commission has recommended Rs 5.9 billion equalization grants on the basis of performance. In this, Rs 2.3 billion is recommended for the provincial level and 3.6 billion is recommended for the local level.