KATHMANDU, May 6: The government is preparing the budget for the Fiscal Year 2022/23, focusing on the revival of the country's economy hit hard by the COVID-19 pandemic through production and productivity growth.
KATHMANDU, April 25: Although the Constitution has made it mandatory for the sub-national governments to introduce their annual budget by June 24 (Asadh 10) every year along with their financial plan to the government within the prescribed time, a number of local bodies are found defying the state’s law.
KATHMANDU, March 31: While expediting preparation of the budget for the fiscal year 2022/23, the Ministry of Finance (MoF) has operated a toll free number to collect budget related suggestions from general people.
KATHMANDU, March 21: The Ministry of Finance (MoF) has received overwhelming demand for transferring Rs 368 billion under non-budgetary cash transfers from various government bodies, which has raised the concern over the fiscal discipline in the government mechanism.
KATHMANDU, March 16: The Ministry of Energy, Water Resources and Irrigation (MoEWRI) has sought a budget of Rs 113 billion from the government for the fiscal year 2022/23, which is Rs 10 billion more than the amount allocated in the current fiscal year.
KATHMANDU, Feb 23: The Election Commission (EC) has demanded around Rs 9 billion for the conduct and management of local polls. The commission has demanded the Ministry of Finance (MoF) release Rs 8.95 billion for the local polls scheduled to be held on May 13.
KATHMANDU, Feb 11: Although the government has already allocated Rs 10 billion in the current budget for the election, the Election Commission has sought an additional Rs 40 billion to conduct the upcoming local level election. Information to this was shared by the Finance Minister during a program organized to unveil the bi-annual report of the current budget.
KATHMANDU, Feb 9: The Ministry of Finance has stated that there will be no shortage of budget for the Kathmandu-Terai / Madhesh Fast Track project that is under construction at present. The Ministry of Finance has given such a reply while the Nepal Army, which is responsible for the construction of the project, is demanding to ensure the budget.
Feb 9: A global initiative to get COVID-19 tests, treatments and vaccines to poorer nations has only received 5% of the donations sought to deliver on its aims this year, according to the World Health Organization (WHO) and other aid groups.
KATHMANDU, Feb 1: The Indian government has allocated its annual grant of INR 7.50 billion (around Rs 12 billion) to Nepal for the fiscal year 2022/23, which is 24 percent less than the amount allocated for 2021/22.
KATHMANDU, Jan 23: The general public has not been vaccinated against COVID-19. The number of deaths due to the lack of treatment is also significant. The construction of development infrastructure including roads and irrigation has not gained momentum. But the government is preparing to spend around Rs 240 million on the decoration of the ministers’ quarters alone. The political leadership was criticized for starting new construction while the country already had ministerial quarters. Amid criticism from the general public, the government is constructing 27 minister quarters in Bhaisepati of Lalitpur at a cost of Rs 1.3 billion.
KATHMANDU, Oct 10: In the course of discussing the implementation of the budget with various agencies, the Ministry of Finance held discussions with the National Planning Commission on Sunday. At the meeting, emphasis was laid on increasing the capital expenditure and moving ahead with the programs announced in the budget immediately in order to achieve the target of 7 percent economic growth projected by the replacement budget.
KATHMANDU, September 15: The country is facing a ‘budget holiday’ from Wednesday mid-night with the government undergoing a logjam to spend money from the state coffers for being unable to get the ordinance budget endorsed by parliament within the deadline.
KATHMANDU, September 12: The government, despite its commitment to give respite to the COVID-battered economy, has introduced pork barrel programs for the pandemic-hit sectors by allocating large amounts of funds on distributive headings.
KARNALI, July 15: The Karnali province government is to introduce the province's budget for fiscal year 2021/22 through an ordinance. The province government had on June 15 presented in the Province Assembly a budget of Rs 36 billion 546 million 600 thousand for the next fiscal year.
KATHMANDU, July 14: Newly-appointed Finance Minister Janardan Sharma has said that the Sher Bahadur Deuba-led government will revise the budget introduced by the previous government through an ordinance as per the road map of the new government.
KATHMANDU, July 2: Tourism experts have suggested to Nepal Tourism Board (NTB) to bring its annual budget in coordination with the federal, provincial and local levels to revive the tourism sector that has been hit hard by the COVID-19 pandemic.
KATHMANDU, June 27: A total of 71 local governments have failed to announce their budgets on time this year despite the constitutional provisions that require these sub-national governments to introduce their annual budgets by June 24 (Asadh 10) every year.
KHOTANG, June 25: Eight local levels including two municipalities in Khotang district on Thursday unveiled their policy and programs for the fiscal year 2021/022. Barahapokhari and Kepilasgadhi rural municipalities are yet to unveil their policy and programs.
KATHMANDU, June 15: Bagmati Province has announced a budget of Rs 57.72 billion for fiscal year 2021/22. According to Kailash Prasad Dhungel, Minister for the Economic Affairs and Planning of Bagmati Province, the provincial government has allocated Rs 29.70 billion (51 percent) for capital expenditure while Rs 26.01 billion has been allocated for recurrent expenditure.
KATHMANDU, June 3: The government has earmarked Rs 1.76 billion to purchase vehicles in the next fiscal year. The amount is twice the amount allocated under the heading in the budget of the current fiscal year.
KATHMANDU, May 31: While noting that the government may face serious challenges in its implementation in view of the ongoing COVID-19 pandemic, private sector bodies have welcomed the budget 2021/22 with a cautious note.
KATHMANDU, May 29: Overall, the budget is very comprehensive. The option of bringing a budget just focused on dealing with the current pandemic has not been taken, and the budget assumes the return to the status quote ante prior to the pandemic in the coming fiscal year. Keeping the forthcoming elections in mind, the budget in many aspects is expansionary and caters to assisting the masses.
KATHMANDU, May 29: The government this year too has reiterated its same old commitment to expand the petroleum storage capacity of the country so that it can meet the national demand for at least three months.