April 19: The Ministry of Finance is gearing up to prepare the budget for the upcoming fiscal year 2019/20. There is a constitutional provision which binds the government to prepare the budget within May 29. The National Planning Commission has set a ceiling of Rs 1.5 trillion for the budget. The finance ministry is working in line with the ceiling set by the NPC.
The government is planning to announce programmes in the upcoming budget after a review of the first year of implementation of fiscal federalism, according to Finance Minister Yuba Raj Khatiwada’s advisor Dr Ram Sharan Kharel.
A high ranking official at the finance ministry told New Business Age that the government will not announce any populist programme this time as such programmes announced without proper management of source had cost a heavy burden to the state coffers.
According to him, the government has given high priority to trade deficit, lack of investible capital, agriculture, infrastructure while preparing the budget.