Govt to announce new budget through ‘substitution bill’

Published On: August 10, 2021 05:15 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, August 10: The government is revising the budget introduced by the previous government through an ordinance as per the road map of the new government.

Speaking in parliament on Tuesday, Finance Minister Janardan Sharma said that the government is preparing to endorse a ‘substitution bill’ through parliament to announce the revised budget. The next meeting of the House of Representatives has been scheduled for Thursday.

Amid uncertainty on whether the Sher Bahadur Deuba-led government will give continuity to the ordinance-based budget presented by the KP Oli-led government, Finance Minister Sharma has confirmed that the government will announce a new budget. “Without keeping any prejudices against the feasible programs forwarded by the previous government, the budget will be revised to make it more realistic,” Sharma said.

With almost a month of the new fiscal year passed, the delay in budget implementation has kept the government offices and private sector bewildered on the government’s policies for the running fiscal year. It is also likely to hit the task of expediting the projects of national interest.

The budget announced on last May 29 by the Oli government has been criticized heavily for being a populist one and influenced by the election agendas.

Sharma said there are some mismatches in the budget announced by the erstwhile Oli government. “There is no clarity on how to manage sources worth around Rs 300 billion to be spent on the proposed projects,” he added.  


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