SIRAHA, July 31: Uncertainty is increasing with six local levels in Siraha district failing to bring the budget for the fiscal year 2020/21. These local levels should have brought their annual estimates of income and expenditure within June 24 but have not been able to due to internal conflict and disagreement between the people's representatives.
The government has allocated Rs 41.4 billion for the agriculture sector in this year’s budget. Many had high expectations that the new budget would be a dramatic departure from the past and make bold decisions to allocate more budget in agriculture. However, the share of agriculture budget to the total budget stands at 2.8 percent. Furthermore, the Ministry of Agriculture and Livestock Development (MOALD) is receiving only Rs 37.40 billion to conduct agriculture-related programs. Compared to the ambitious programs that the government has put forth, the amount is far less to meet the necessary expenses. Of the budget, Rs 2.62 billion will go to provinces, Rs 5.44 billion will go to local governments and Rs 4 billion has been separated under the heading of the financial management of the loan that the World Bank and International Fund for Agriculture Development (IFAD) will be providing for the country’s farming sector. Rs 11 billion has been set aside for the subsidy in fertilizers.
KATHMANDU, May 30: In the budget for fiscal year 2020/21, the government has talked much about facilitating a number of programs to generate employment opportunities via cooperatives, but it has failed to outline mechanisms to monitor the largely unregulated sector where several cooperatives have misappropriated billions of rupees of their members.
KATHMANDU, May 28: Despite criticism from various quarters, the government has given continuity to the Local Infrastructure Development Program (LIDP), previously known as the Constituency Development Fund.
KATHMANDU, May 28: The government is unveiling its budget for the next fiscal year 2020/21 later today. Minister for Finance Yuba Raj Khatiwada is scheduled to present the budget -- the estimates of expenditures and revenues of the government -- at a joint meeting of the federal parliament at 4 PM today. The federal government is bound by the constitution to present its budget on Jestha 15 each year for the upcoming fiscal.
Traveling can be expensive. But you don’t need to win the lottery or take out a loan to be able to travel and travel well. You can take that trip you have been meaning to go on without breaking the bank if you are just a little wise with your money.
KATHMANDU, Feb 4: The parliamentary Development and Technology Committee on Monday directed the government for revising project design process to ensure timely construction of bridges that have remained affected for a long time due to faults in design.
One of the biggest ironies of Nepal’s budget system has been that while the country somehow manages to allocate budget for development of infrastructure projects, huge portion of such budget remains unspent, even frozen in some cases. During the pre-budget discussion period, leaders from local, provincial and federal spheres demand money for different development activities. The respective governments address their concerns too by allocating it for the development projects demanded by them.
Imagine going on a lengthy trip to the island of Tuvalu and having the time of your life but realizing you don’t have enough money to buy a return ticket back home. Or maybe you are traveling through multiple countries at once, say in Europe, and realize that you have spent way more than you were planning to during just half of the trip. Lack of a proper budget is what stops most of us from hopping on a plane to that place you’ve always wanted to visit.
RAJBIRAJ, Aug 28: Five rural municipalities of Saptari district are likely to lose federal grants after failing to hold their respective council meetings and unveil budget as required by the Local Government Operation Act 2017.
DHADING, July 22: Nilkantha Municipality of Dhading had allocated Rs 140.2 million for construction of roads and bridges during the last fiscal year. Among the priority projects of the local unit, a few have been completed while the fate of some others hangs in the balance.
Dhangadi, July 7: The ruling side and the opposition parties have finally come to an agreement to resume the meeting of the Sudur Paschim State Assembly. It was being obstructed repeatedly since the tabling of the budget for the new fiscal year 2019/20.
NEW DELHI, July 5: India on Friday unveiled a budget aimed at boosting infrastructure and foreign investment, the first since the Bharatiya Janata Party led by Prime Minister Narendra Modi returned for a second term in power.
KATHMANDU, July 1: The Ministry of Federal Affairs and General Administration (MoFAGA) had made it mandatory for local units across the country to unveil the budget before June 25. However, around 118 local units are yet to do so despite missing their deadline. The dispute between local representatives, lack of manpower and coordination between the officials have been learnt to be the major reasons behind the delay.
NEPALGUNJ, June 26: Nepalgunj Sub-metropolitan City has unveiled a total annual budget of Rs 2.28 billion for the Fiscal Year 2019/20, with Rs 1.21 billion in current expenditure and Rs 1.04 billion in capital expenditure.
KATHMANDU, June 26: Local governments across the country have unveiled their annual budgets for the next fiscal year, their second budgets since they came into existence following the 2017 local elections.
KATHMANDU, June 26: The house of representatives (HoR) has approved the Appropriation Bill 2075 (2019), clearing the legal way for the government to make spending as proposed by Minister for Finance Yuba Raj Khatiwada for Fiscal Year 2019/20.
KATHMANDU, June 25: The Kathmandu Metropolis has made public the budget of Rs 15.50 billion for the coming fiscal year. Deputy Mayor Hariprabha Khadgi Shrestha presented the budget in the fifth convention of the Metropolis' Council on Tuesday.
RAUTAHAT, June 23: Husnara Khatun, deputy mayor of Ishnath Municipality, has accused the mayor and the chief administrative officer (CAO) of misappropriating budget funds meant for development projects.
KATHMANDU, June 22: To achieve the sustainable development goals (SDGs), there will be an average investment requirement of Rs 2,024.8 billion per year until 2030, according to an estimate by the National Planning Commission (NPC).
JUBA, June 20: South Sudanese lawmakers stormed out of a budget presentation for the 2019/20 financial year by the finance minister on Thursday, with one citing frustrations over non-payment of salaries of civil servants and soldiers.
KATHMANDU, June 19: The Ministry of Finance (MoF) has transferred Rs 84.51 million from one budget heading to another to finance foreign junkets of top-ranking functionaries and officials in the past two months alone.