The Ministry of Finance has issued a 47-point budget implementation guideline to all government ministries and bodies to ensure the current fiscal year’s budget is implemented effectively.
To make sure the budget of current fiscal year is implemented in a good way, the Ministry of Finance has issued a 47-point budget implementation guideline. This guideline has been sent to all ministries, commissions, secretariats, and offices of the government.
The guideline, which was issued on last Monday, directs all agencies to implement their budget and programs within the given deadline. This is done to increase the effectiveness of capital expenditure, utilize resources economically, and keep a regular check on the progress of development projects.
Updating LMBIS and Planning Early
According to the new guidance, all ministries and departments must update their approved programs and budget in the Line Ministry Budget Information System (LMBIS) on time. They also need to prepare their procurement plans and annual work plans right at the start of year and solve any problem that comes during project implementation quickly.
The Ministry of Finance has also directed offices to spend money only for the actual purpose of budget allocation. They must control unnecessary spending, make public procurement competitive and transparent, and make payments for development projects based on their actual performance.
Improving Financial Discipline and Monitoring
Special instructions are given to make revenue collection more effective, strengthen internal control systems, and protect public properties. The Ministry of Finance also wants all offices to maintain proper financial discipline.
Lastly, the Ministry of Finance highlighted the need of regular monitoring, progress reviews, and good reporting systems. The main aim of these guidelines is to fix problems like delays in budget work, weak spending capacity, and not achieving the target on time.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
