Government to revise budget introduced by Oli-led government thru ordinance
KATHMANDU: The government has decided to revise the budget for the fiscal year 2021/22 introduced by the erstwhile KP Sharma Oli-led government through an ordinance. The Ministry of Finance has started preparations to bring a replacement bill for the same.
The government started preparations to bring the replacement bill after the CPN (Unified Socialist) and Democratic Socialist Party-Nepal got recognition from the Election Commission on Wednesday.
The Ministry of Finance gathered suggestions pertaining to the replacement bill during a meeting with the secretaries of other ministries on Thursday.
Highlighting the priorities of the replacement bill, Finance Minister Janardan Sharma directed the officials to revise the program in such a way that the country’s existing economy could move head towards the productive direction.
During the meeting, Minister Sharma said that emphasis should be laid on strengthening the practical implementation of federalism, maintaining financial discipline, increasing capital expenditure and building capital while amending the ordinance, according to his secretariat.
Various ministries have been asked to send revision proposals giving priority to reducing poverty and increasing employment, availability of comfortable health services, education, agriculture and tourism among others.
During the meeting, National Planning Commission Vice-Chairman Dr Bishwo Nath Paudel suggested working on the concept of ‘regular tracking system’ to increase capital expenditure.