FM Paudel begins homework for budget execution

Kathmandu, May 31

The Ministry of Finance has started homework for the execution of the budget of the coming fiscal year 2021/22.

The Ministry has launched initiatives to expedite works for the maximum implementation of the programmes and policies announced in the budget.

Finance Minister Bishnu Prasad Paudel has directed the development ministries and concerned agencies to prepare an action plan with time schedule for the execution of the plans and programmes.

In a meeting with Minister for Physical Infrastructure and Transport Basanta Nembang, Minister for Education, Science and Technology Kriahna Gopal Shrestha and Minister for Communication and Information Technology Parbat Gurung and secretaries at the MoF, Paudel said, "We are serious about the implementation of budget. Do all the necessary work and prepare the timeline for the programme execution, the Finance Ministry would support, coordinate and facilitate."

He directed to prepare the work procedures and directives for the progammes and polices included in the budget before the end of the current fiscal year 2020/21 next fiscal.

Finance secretary Shishir Kumar Dhungana urged to pay attention to the execution of the programmes and the results.

The MoF said that such discussions will be held with the concerned ministries and agencies about budget executions.

FM Paudel had unveiled Rs. 1647 billion budget for the next FY with special attention to the control of COVID-19 pandemic, create health infrastructure, business and economic revival.

Earlier on Sunday, he had responded to the doubts expressed by the critics that the implementation of the large size budget would be difficult at the time of pandemic and shortage of resources.

Although the governments had announced popular as well as strategic programmes and projects through budget, their implementation has remained poor with most of the projects witnessing time and cost overrun. Even the status of national pride project is not satisfactory, as per the National Planning Commission.

Capital spending has remained poor for many decades with most of the budget consumption happening at the last four months of the year.

The government has said that only 85.9 per cent of the total amount of budget would be mobilised in the current fiscal year – 91.4 per cent recurrent, and 71.3 per cent development expenditure and 85.2 per cent financial management allocation.

 Published in The Rising Nepal daily on 1 June 2021.