Kathmandu Metropolitan City (KMC) has allocated a total budget of Rs. 25 billion, 419 million, and 600 thousand for the upcoming fiscal year.

On Friday, the KMC presented the estimated budget for the fiscal year 2022/023.

According to RSS, Deputy Mayor Sunita Dangol presented the budget in Friday’s municipal assembly. The new budget is seven billion more compared to the current fiscal year. The KMC had unveiled a budget of Rs 18.95 billion for the current fiscal year.

The highest amount of budget (Rs 11.8 billion) has been allocated for the infrastructure development for the 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 3.05 billion would be received for social security allowance and different other grants from the federal and provincial governments.

The KMC tabled its budget today (Asar 10) as per the constitutional provision.

Photos: The Risin Nepal