Nepal

National Budget: Govt announces to dissolve 20 agencies

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KATHMANDU, MAY 29In a parliamentary session on Monday, Finance Minister Dr.

Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81. The announcement took place during a joint session of the National Assembly and House of Representatives in the federal parliament. Addressing the joint session of the federal parliament this evening, Finance Minister Mahat stated that the government will to dissolve 20 agencies.

Budget prioritises increase in capital expenditures: Finance Minister National Budget 2080/81: NEA and HIDCL To Be Restructured  Minister Mahat stated that almost 20 different institutes and committees will be suspended to maintain frugality in government spending.

In the same manner, Minister Mahat stated that the government will emphasize on the amalgamation of bodies with similar nature of function.Earlier, Prime Minister Pushpa Kamal Dahal had emphasized the need to cut down government spending and to ensure the same the budget has made the said provision.

Thereafter, an assessment to specify such dispensable committees and boards was also underway the supervision of secretary for Office of the Prime Minister and Council of Ministers Baikunth Aryal.In 2075, in co-ordination with expert economist Dilliraj Khanal, Public Expenditure Review Commission had been formed that had recommended the government to dissolve all unnecessary Boards and Committees as it was taking a toll on state revenue.

However, during the time the recommendation had not been acted upon. The constitutional requirement obliges the government to reveal the budget on Jestha 15 each year. Earlier, on Jestha 05, President Ram Chandra Paudel, the incumbent at the time, had presented the ruling coalition government's policies and programs for the upcoming fiscal year.

Typically, the government formulates the budget based on its outlined policies and programs, serving as a blueprint for its planned course of action. .

This article first appeared/also appeared in https://thehimalayantimes.com 




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