The Kathmandu Metropolitan City (KMC), on Sunday introduced a budget worth Rs25.54 billion for the fiscal year 2023-2024. The budget for the next fiscal year has increased by Rs130 million from previious year’s Rs25.41 billion.
The neighbouring Lalitpur Metropolitan City (LMC), has also unveiled its budget for the next financial year, totalling Rs6.5 billion. Last year, the Lalitpur Metropolis had announced a budget of Rs6.35 billion.
Deputy Mayor Sunita Dangol, presented the budget on Sunday amidst a function to observe the 13th municipal assembly
For the coming fiscal year, the KMC has allocated Rs7 billion for infrastructure development, which is 29 percent of the total budget. Last year, it had allocated 49.9 percent of the total budget or Rs11.08 billion for the same.
The KMC has decided to give continuity to the maintenance of roads and footpaths. A detailed project report (DPR) for these has already been prepared, with Rs1 billion allocated for the purpose.
After infrastructure, the KMC has allocated the second-highest amount to education sector. From its internal sources, the KMC has allocated Rs1.32 billion under the education headline. For the improvement of technical education, and promotion of vocational knowledge, Rs500 million has been allocated.
Under the health sector, the KMC allocated Rs926 million. It also announced plans to operate an ‘affordable pharmacy’ by allocating Rs600 million budget.