KATHMANDU, FEBRUARY 10
Although the government has allocated only Rs 10 billion in the current budget for local election, additional Rs 40 billion has been sought. This information was shared by Finance Minister Janardan Sharma during a programme organised to unveil the bi-annual report of the budget.
"It is the government's duty to ensure resources for the election as it is a national campaign. So, we are under pressure," said Minister Sharma, adding that election would be held on time by managing the necessary budget.
On the occasion, he admitted that the development budget was not spent due to legal and structural hurdles. Projects failing to acquire land and without resources left in limbo is another reason behind low capital expenditure, he argued.
According to the finance minister, those responsible for carry out project works did not make honest efforts and shortage of competent human resource were equally significant hindrances.
He further said the budget would not be spent fully.
Last September, Minister Sharma had unveiled replacement budget of Rs 1.63 trillion.
Minister Sharma further regretted that the budget was brought without making adequate preparation.
"I'm for changing the budget making process. It is imperative to fix the standard on what sort of project the province, local and federal governments can carry out," he mentioned.
He presented the revised estimate of budget spending - Rs 1.54 trillion - which is 94.7 percent of the total budget.
According to him, all sides' cooperation is necessary to curb crypto currency, hyper fund, online gaming and others which are posing threat to economy.
A version of this article appears in the print on February 11, 2022, of The Himalayan Times.
