Govt spending increases under new FinMin

Published On: April 14, 2024 06:19 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 14: Since Barshaman Pun assumed the role of finance minister, government spending has increased significantly. The ministry has intensified expenditure on various non-budgeted projects by implementing fund transfers, program revisions, and other methods.

In the past month, government agencies spent Rs 1.63 billion. Additionally, programs worth Rs 2.63 billion have undergone revisions. A total of Rs 36.50 billion, previously unspent and allocated under various budget headings, has now been utilized.

Fund transfers involve reallocating money from one budget heading to another, while program revisions entail redirecting funds within the same budget from one agency or program to another.

According to the Financial Procedures and Fiscal Responsibility Act, if the budget allocated for the current fiscal year remains unspent, it can be utilized through transfers, program revisions, and additional disbursements. The ministry has been working to enhance expenditure legally within these provisions.

Of the total Rs 1.63 billion transferred, the largest amounts came from the Ministry of Health and Population and the Ministry of Physical Infrastructure and Transport. The agencies under the Ministry of Health have transferred Rs 644.1 million, and the Ministry of Physical Infrastructure and Transport has reallocated Rs 488.6 million.


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