KATHMANDU, September 7: The government is tabling the substitution bill at the parliament meeting on Thursday.
The Sher Bahadur Deuba-led government, aiming to revise the ordinance based budget implemented by the KP Oli-led government, has planned to endorse the substitution bill. The new House session is scheduled to begin from Wednesday.
According to officials at the Ministry of Finance (MoF), the government has finalized the substitution bill. “If everything goes as planned, the new budget will receive parliament’s approval in the next one week,” the source said.
Finance Minister Janardan Sharma has sought to revise the budget stating that it would remove the projects and programs in which the sources are not clearly defined. Also, the present government has announced to focus more on the COVID-19 related recovery programs through the revised budget.
The previous government announced the annual budget on May 29 and even expedited its implementation by holding consultations with various line ministries. With the new fiscal year starting from mid-July, the implementation of the budget has been delayed by around two months.
Experts say the delay in the implementation of the budget is likely to adversely affect the resource allocation for the development projects. “The government struggles to spend a huge amount of capital expenses each year, the delay is likely to further retard the development activities,” said Keshav Acharya, an economist.