Kathmandu, Feb 8: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said budget for the upcoming fiscal year should be formulated keeping in mind the state priorities and people’s future.
At a discussion on ‘national resource estimate for upcoming fiscal year’ held at Singhadurbar on Thursday, PM Dahal stressed that budget ceiling should be determined keeping people at the center.
He directed the ministries to select plans placing special emphasis on the plans that can enhance production and generate employment. “Let us be realistic while making the budget. Be proactive and think about gathering sources”, PM Dahal directed, adding, “Our policy, programme and budget should win people’s confidence and strengthen the system”.
Budget is not purely an economic but a political economics, he said, stressing the need to move ahead in a way to end misunderstandings surfaced in the past years. “Some confusions used to be surfaced among the planning commission and ministries, and ministry of finance and Nepal Rastra Bank. It should not be resurfaced again”.
Claiming that the overall country’s economy is moving to the right track of late, he said, “Revenue collection has increased following arduous efforts while external indicators of the economy have further improved”.
Underlining the need of devising fiscal and monetary policies after identifying reasons behind slow capital expenditure, PM Dahal said, “Let us make budget being based on national importance and priorities. Also make a critical reflection why capital expenditure is not increasing before formulating budget”.
Also on the occasion, Finance Minister Dr Prakash Sharan Mahat pointed out the need of balanced budget in the context when there was a mismatch between demand and capability.
Revenue collection has not decreased in compared to past years, he said, adding, “Revenue has increased by 10 percent. It is considered a good progress at international level”.
Likewise, Vice-chairperson of the National Planning Commission (NPC) Dr Min Bahadur Shrestha shared the status of budget sources, revenues, grants, foreign loan and internal borrowing.
Also present on the occasion were ministers and secretaries of different ministries. #Nepal