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.
KATHMANDU, May 27: Five former chief election commissioners have drawn the attention of the government not to introduce any program in the upcoming annual budget which can influence the mid-term polls scheduled for November this year.
KATHMANDU, May 23: Prime Minister KP Oli on Sunday said that the government will introduce the next year’s budget through an ordinance, asserting that he is firm to implement the programs that he announced earlier.
KATHMANDU, Nov 30: Minister for Finance Bishnu Prasad Poudel has allocated the entire budget under the Local Infrastructure Development Partnership Program for the development of health infrastructures this year.
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.
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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.