•      Tue Jul 23 2024

Finance Ministry begins budget execution plan for next fiscal year

Barshaman Pun

Kathmandu, June 21: The Ministry of Finance (MoF) has started preparing its plan to execute the budget for the upcoming fiscal year 2081/82 BS.

Finance Minister Barshaman Pun today held a preliminary discussion about the budget implementation plan with both the secretaries of the MoF, division chiefs and high-placed officials of the Department of Customs and Inland Revenue Department, Minister Pun’s secretariat said.

“Let us chart out a plan to increase spending and implement the programmes specified in the budget. The more absorbing capacity we increase as per the target the more circular the market will be”, he noted.

The Finance Minister further said, “If the public spending taking place in late June was made six months earlier it would create different dynamics in the market. We would have seen three circulars in the market had there been dynamic public spending pattern in the past as it is now”.

Minister Pun directed the ministry officials to chart out quarterly plans for budget implementation and avoid vacation of big festivals such as Dashain and Tihar.

He also directed the ministry to immediately release equalization grants to the local level. “The local governments are in the final stage of bringing their budgets. Let us transfer 100 percent equalization grants to the local level to the possible extent. If not arrange transfer the grants higher than the previous year”.

He also instructed the senior officials to yield high performance with confidence and courage beig not fearful of any action.

Finance Minister Pun expressed his confidence that the Nepal Rastra Bank would bring the upcoming monetary policy in consistent with the fiscal policy.

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