Kathmandu. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has claimed that the budget for the upcoming fiscal year is realistic, implementable and credible.
Finance Minister Poudel made the claim while replying to a question raised by lawmakers in the House of Representatives meeting held on Monday. Stating that the budget was prepared on the basis of sovereign values, he said the budget size has been increased by only 5.56 percent compared to the current fiscal year.
He said that the size of the budget, the source of the budget, revenue mobilization and mobilization of international cooperation are all realistic. Finance Minister Poudel claimed that he was aware of the issue of debt trap, increase in the size of the loan and the need to be careful about taking loans in recent days. He claimed that the government was aware that the loan should be taken only in such a way that the return is ensured and not to take loan for the loan.
He said, “I have increased the size of cable cable by only 5.56 percent compared to the current fiscal year, guided by the belief that this budget should be realistic, implementable, reliable, and should be the kind of budget that stands the test of the universal values of budget making.”
That is why I would like to submit that the size of the budget is realistic and whether it is the question of revenue mobilization, whether it is the question of mobilizing international cooperation, all these are realistic. Regarding internal debt, I am aware of the fact that in recent times, there has been talk of the dice of debt, there has been talk of increasing the size of the loan, there has been a comment that there is a need to be careful about taking loans. I would like to say that the government is aware that the loan should not be taken for the loan, but only to spend the loan in a productive way in a productive way and to ensure its return. ”
He also reiterated that the government is aware of debt.
Likewise, Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the revenue growth target would be met in the next fiscal year. He recalled that he had the past experience of preparing the budget with the assumption that the revenue would increase by 31 percent compared to the current fiscal year.
Based on past background and experience, the budget for the upcoming fiscal year has set a target of 17 percent revenue growth as compared to the revised estimates of the current fiscal year, he said. He reiterated his belief that the target of 17 percent revenue growth would be achieved.
“It has been the past experience of preparing the budget with an estimate of 41 per cent increase in revenue as compared to the current fiscal year,” he said. Talking about the current fiscal year, we presented the budget that it will increase by 31 percent. Against this background, when I proposed revenue in the budget, I have set a target of increasing the revenue by only 17 percent compared to the revised estimate of the current fiscal year. I have offered with confidence that the target of 17 percent revenue growth will be met and can be achieved. ”
He said he was careful that the proposal of resources in the budget presented for the next fiscal year should be realistic and implementable in nature. He said that for a long time, he has been hearing criticism that the budget is not realistic, has not been implemented and the credibility of the budget is weak.
Finance Minister Poudel said he was very careful that the proposal should be realistic while proposing resources in the budget for the upcoming fiscal year. “In the budget presented for the next fiscal year, the finance minister is most careful that not only this proposed allocation, but also the proposal of resources should be realistic and implemented,” he said. Because, for a long time, we have been hearing criticism of the nature that the budget is not realistic, has not been implemented and the credibility of the budget is weak. I am very careful that when the budget proposes resources, the proposal of that source should be realistic. In terms of resources, there are three aspects of revenue mobilization, international cooperation and internal debt. ”
He also shared that in the past, he had the experience of distributing chocolates by calling the employees associated with the revenue to the Ministry of Finance after meeting the revenue target.
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