Bhairahawa. Lumbini Province has seen improvement in inland revenue collection in the first 11 months of the current fiscal year.

The provincial government has collected Rs 5.14 billion in internal revenue till June 7. This amount is 12 percent more than the same period last year.

According to the financial details presented by Minister for Financial Affairs and Planning Dhanendra Karki in the Province Assembly, Rs 26.57 billion has been deposited in the Province Consolidated Fund in the same period. Grants received from the federal government, revenue allocation and amount received from the internal resources of the provinces will be included in the fund.

The state government has so far spent Rs 17.47 billion in the current fiscal year. This is 44.85 percent of the total budget. Of the total expenditure, Rs 10.11 billion is capital expenditure and Rs 7.36 billion is recurrent expenditure.

According to the provincial government, out of Rs 1.93 billion provided to the local levels under financial transfer, 56.42 per cent has already been spent.

The first phase of works under the Province Capital Management and Construction Programme has been completed. The project has achieved 100 per cent physical progress and 95.58 per cent financial progress. The service has been operating from the constructed administrative building since May 21.

According to Minister Karki, the state’s economic growth rate is estimated to be 2.87 per cent in the current fiscal year. The state government has made it clear that the economic growth rate has been affected due to lack of expected growth in the agriculture sector and slow expansion of transport, communication and trade sector. In the previous fiscal year, the province’s economic growth rate was 4.27 per cent.

The Gross Domestic Product (GDP) of the province is estimated to reach Rs 937 billion in the current fiscal year. Lumbini Province’s contribution to the national GDP is projected to be 14.2 percent.

It is estimated that 98.6 per cent households have access to electricity and around 80 per cent households have internet service.

The financial equalization grant, conditional grant, special grant, complementary grant and revenue sharing received from the federal government has made significant contribution to the province’s income, according to the financial report.