Finance Minister Holds High-Level Discussions to Implement New Budget

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Finance Minister Holds High-Level Discussions to Implement New Budget

September 28: Finance Minister Janardan Sharma has stepped up work to implement the new budget brought by the current government replacing the ordinance budget introduced by then KP Sharma Oli-led government. Minister Sharma has started working for the effective implementation of the budget after the parliament endorsed the Appropriation Bill paving way for the government to spend the budget. 

On Monday, September 27, he called a high-level meeting with the Secretary of the Ministry of Finance and the Vice Chairman of the National Planning Commission to discuss the implementation of the new budget. The meeting held in-depth discussions over effective implementation of new programmes introduced in the replacement budget and the programmes continued from the previous budget. 

Finance Minister Sharma instructed concerned officials to increase capital expenditure by implementing the development projects announced in the budget. He also directed concerned secretaries  to prepare a monthly action plan of projects. He also expressed commitment that there would be no delay in the work to be done by the Ministry of Finance regarding budget implementation and capital expenditure.

Dr Bishwo Nath Poudel, Vice Chairman of the National Planning Commission, said that all the ministries should work hard to achieve the target of seven percent economic growth set by the replacement budget.

Finance Secretary Madhu Kumar Marasini stressed on the need to start work immediately by preparing a monthly action plan for the effective implementation of the replacement budget 

According to Govinda Roka, Public Relations Adviser to the Finance Minister, the high-level meeting has decided to determine the monthly work progress, sort out the issues immediately that need work procedures and work on issues instantly that need inter-ministerial coordination.

The government had presented a budget of Rs 1.63 trillion by reducing Rs 14.7 billion through the replacement bill.  The previous government had introduced a budget of Rs 1.64 trillion. 

The government which has changed some tax rates through the replacement bill had also included some new social security programmes. The Appropriation Bill has already been passed by the federal parliament and authenticated by the president which has paved the way for the government to spend the budget. 

Amid protests from the CPN-UML, the National Assembly also passed the Fiscal Bill 2078 and the National Debt Raising Bill 2078. 

 

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