Finance Minister Dr. Swarnim Wagle has instructed ministry secretaries to implement the budget effectively with a solid plan to achieve capital expenditure and revenue collection targets.
Finance Minister Dr. Swarnim Wagle directed all ministry secretaries to focus on implementing budget with a plan to achieve hundred percent capital expenditure and revenue targets. During a meeting of all ministry secretaries regarding budget implementation plan of fiscal year 2083/84, he said that the new budget is starting of first installment under government’s five-year economic roadmap. He told secretaries to correct past disappointments in capital spending and weaknesses in collecting revenue.
Focus on Capital Spending and Revenue Goals
Dr. Wagle stressed that country should not face past situation where they failed to spend capital budget and collect revenue. “In last fiscal year, capital expenditure was only around 49 percent. The revenue collection was also not more than around Rs 12.5 kharba,” he said. He added that this kind of result is not acceptable in current new budget and capital expenditure must be at least 80 percent, while revenue target of around Rs 16 kharba must be met.
Solving Practical Difficulties and Delegating Authority
Finance Minister requested secretaries to openly share any legal or practical difficulties with Ministry of Finance so that they can solve it and move forward with planned work. He also mentioned that finance ministry has delegated authority of budget transfer and clarification of unallocated budget to respective ministries since last fiscal year to make budget implementation easy. He urged them to make good use of this authority.
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BUDGET
