Kathmandu. The government, which is trying to bring a big budget for the coming year, has already spent Rs 266 billion this year for debt liability.
For this year, the government had allocated more than Rs 300 billion for the payment of interest on loans. The government is presenting the budget for the upcoming fiscal year 2082/83 BS on Thursday.
According to the constitution made after the declaration of the federal democratic republic in the country and the provisions made there, the government should bring the budget on May 15 every year. Accordingly, the Ministry of Finance has expedited the preparation of the budget in an intensive manner to bring the budget within the stipulated day.
Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel met the President today and briefed him about the budget.
The Ministry of Finance is finalizing the work of writing the budget by closing the doors all around. With just two days left for the presentation of the budget for the upcoming fiscal year 2082/83 BS, the government has not been able to spend the largest budget at present.
The government had presented a budget of Rs 1,860 billion for the current fiscal year 2081/82 BS. Deputy Prime Minister and Finance Minister Bishnu Poudel was given the responsibility of implementing the budget brought by the then Finance Minister Barshaman Pun after the formation of the new government.
A total of 66 per cent of the total budget has been spent till Monday. The government is yet to spend Rs 661 billion out of the budget for the current fiscal year. The government always brings a big budget but fails to spend it. The total expenditure of the government during this period is Rs 1,199.17 billion. Similarly, the government has spent Rs 985.33 billion on income.
The government is yet to spend Rs 336 billion in the current fiscal year. The government, which has allocated very less budget for development than other heads, has not been able to do the same Amount of Rs 600 billion. The government is yet to spend more than Rs 223 billion on capital expenditure.
Incumbent Finance Minister Barshaman Pun, who presented the budget for this year on May 15, said that the budget could not be spent due to lack of interest in the implementation of the budget by the Prime Minister himself.
According to him, the Prime Minister himself has been refuting the current budget and could have brought a mid-term budget if he was not satisfied. The Prime Minister, who has been criticizing the budget, has said that I am doing well and the economy is in the right direction.
He said, “You deny the current year’s budget. I am making good progress financially. The Prime Minister says that he is taking the country to the right place. How can an economy be okay if the budget is wrong, policies and programs are wrong? Policies and budgets will fix the economy. The way the policy, program budget was presented. The Prime Minister was not ready to implement that spread. That a new policy program, budget should have been brought, in the middle of the financial year, there was a dilemma that it could not be implemented. ’
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