Kathmandu, June 25: Finance Minister Barshman Pun has said that the total amount allocated to the Ministry of Finance is only Rs 48.61 billion. The rest of the budget comprises fiscal transfers including 148 billion for financial equalization grants, Rs.13.20 billion for supplementary grants and Rs.12.90 billion for special grants to be spent through provincial and local levels.
Responding to questions raised by parliamentarians in the House of Representatives related to the Ministry of Finance under the Appropriation Bill 2081, he said compared to the current financial year, current expenditure has been reduced for the coming financial year and the budget has been increased towards capital expenditure.
Minister Pun mentioned that the government is committed to the proportional and balanced development of all geographical regions, classes and communities. “There may not be equal allocation in all the constituencies when it is proposed,” he said, “but it is not true that the government has allocated more budget for the constituencies of a party or leader or minister, we are committed to balanced and proportional development.”
Regarding the use of the climate fund and the use of green ‘financing’, Minister Pun assured that aid will be mobilized based on the climate fund and facilities and in a rights-oriented concept in accordance with the principles of environmental justice.
Regarding the burden of public debt, he mentioned that since the ratio of total public debt to gross domestic product is below 40 percent, arrangements have been made to use public debt in the productive sector.
He clarified that the budget has given high importance to the sports sector as the budget for the Ministry of Youth and Sports has been increased by almost 22 percent for the coming year
The Finance Minister said that he is confident that the goal of revenue collection could be achieved if it is carried out in a coordinated manner. During the discussion, the parliamentarians said that a large amount of money had been kept under the Ministry of Finance under the title of undivided, capital expenditure is low and spending capacity is weak, public debt, current expenditure and expenditure towards financial system are increasing, current expenditure cannot be covered by revenue, the concept of project bank has not been implemented, influential leaders and ministers have received more funds for their districts and constituencies. #nepal #budget
