Sunday, May 20, 2012

Size of budget pushes revenue target up: FM Pun


The last minute increase in the size of the budget for the current fiscal year has put pressure on the revenue target.
"Due to various priority projects in the current fiscal policy, its size has increased putting pressure on revenue target," according to finance minister Barshaman Pun.
Addressing the media after joining the ministry for the second time today afternoon, he claimed that the government will however, meet the revenue target of Rs 241.73 billion despite the pressure.
The government has been able to mobilise Rs 190.08 billion — by the end of Baishakh (mid-May) — which is 19.6 per cent increment compared to the same month of the last fiscal year, though it had set Rs 192 billion target for the tenth month. "The shortfall of Rs 2 billion could be managed from various sources," he said, blaming the political transition for the increase in the size of the budget.
The government had announced Rs 384.9 billion budget for the current fiscal year. The government must mobilise around Rs 50 billion in the remaining two months of the current fiscal year to meet the target of Rs 241.77 billion revenue.
Though, the revenue mobilisation seemed looking up — compared to the last fiscal year — giving the government a confidence that it could meet the revenue target for the current fiscal year — unlike the last fiscal year, when it could not meet the target — the series of strikes across the country in recent days might hit the revenue target, Pun added.
In the last fiscal year, the government had been able to mobilise Rs 200.55 billion revenue, which was only 92.57 per cent of its target of Rs 216.64 billion. The government has failed to meet customs, VAT, excise, vehicle tax, registration fee tax and education tax target, whereas it exceeded the income tax target. The multi-billion rupees VAT fraud had also hit the revenue mobilisation target last fiscal year.
Similarly, Pun also promised to announce budget on time. "We will work on to bring budget on time," he said adding that reform in financial administration, increase in capital expenditure and meeting revenue target are some of his priorities.
Though, the capital expenditure has seen an increment this fiscal year, compared to the last fiscal year, the government has been able to spend only half of the development budget. "The development budget should be expedited to create employment and support the growth," Pun said, adding that the government will bring a permanent mechanism like 'Price Stabilisation Fund' to check the rising petroleum products prices as the ailing Nepal Oil Corporation has been eating up the development expenditures.

Rs 8 billion budget transfer
KATHMANDU: Finance Minister Barshaman Pun said that the government has transferred Rs 8 billion budget from one head to another. "Some Rs 4 billion was transferred for the Army integration process, that is the key aspect of the peace process," he said, adding that Rs 2.5 billion has also been transferred to the local development. The Public Accounts Committee under the Legislature Parliament and CIAA both had directed Finance Ministry not to transfer budget. But Pun claimed that the transfer is according to law.

14 comments:

Anonymous said...

Hi there, I discovered your website via Google while searching for a related subject, your site came up, it seems good.
I've bookmarked it in my google bookmarks.

Have a look at my webpage: 121 dating

Anonymous said...

Thanks for giving your ideas in this article. The other
thing is that any time a problem comes up with a laptop or computer motherboard,
people today should not have some risk involving repairing the item themselves
because if it is not done right it can lead to permanent damage to an entire laptop.
Most commonly it is safe just to approach a dealer of the laptop for your repair of its motherboard.

They will have technicians who have an expertise in
dealing with pc motherboard problems and can get the right analysis and undertake repairs.


My homepage: http://crentebook.net/link/17671

Anonymous said...

I do agree with all the ideas you have presented in your
post. They're really

convincing and will certainly work. Still, the posts are too short for novices. Could you please extend them a little from next time? Thanks for the post.

Feel free to visit my blog post - real estate for sale australia

Anonymous said...

I was very pleased to find this net-site.I wanted to thanks for your time
for this

excellent learn!! I positively enjoying each

little little bit of it and I have you bookmarked to take a look at new stuff you


weblog post.

Also visit my web page: sea fishing kefalonia

Anonymous said...

Hello! Quick question that's totally off

topic. Do you know how to make your site mobile friendly? My weblog looks weird when

browsing from my iphone 4. I'm trying to find
a theme or plugin that

might be able to resolve this problem. If you have any
suggestions, please share.

Cheers!

My page - property montpellier france

Anonymous said...

Hey! Do you know if they make any plugins to protect


against hackers? I'm kinda paranoid about losing everything I've worked hard
on. Any tips?

Also visit my weblog :: http://tohelp.haitipro.net/

Anonymous said...

I will immediately grab your rss as I can't find your e-mail subscription

link or newsletter service. Do you've any? Please let me know in order that I

could subscribe. Thanks.

My web blog: http://community.4-dates.com/CodiMarshall1977

Anonymous said...

Excellent post. I used to be checking constantly this weblog and
I'm

inspired! Very useful info specifically the

closing section :) I deal with such

info much. I used to be seeking this particular information

for a long time. Thanks and best of luck.

Feel free to surf to my web-site: sky tv cricket live streaming

Anonymous said...

advertising and ***********

with Adwords. Well I’m including this RSS to my e-mail and
could glance out

for much more of your respective interesting content.
Make sure you update this again very soon.

.

Feel free to visit my web-site ... Http://Danslacuisinedevalerie.blogs.marieclaireidees.com

Anonymous said...

Thanks for your post. One other thing is when you are advertising your property yourself,
one of the challenges you need to be mindful of upfront is when to deal with house inspection reports.
As a FSBO seller, the key about successfully switching your property and saving
money with real estate agent income is awareness.
The more you recognize, the simpler your sales effort
will likely be. One area in which this is particularly crucial is reports.



my site :: facebook of sex

Anonymous said...

Hi there! I know this is kinda off topic however
, I'd figured I'd ask. Would you be interested in exchanging
links or maybe guest authoring a blog post or vice-versa? My
website goes over a lot of the same topics as yours and I feel we could greatly benefit from each other.
If you happen to be interested feel free to send me an e-mail.
I look forward to hearing from you! Awesome blog by
the way!

My blog ... facebook sex

Anonymous said...

I'm still learning from you, while I'm trying to reach my goals.
I definitely love reading everything that is written on your blog.
Keep the stories coming. I loved it!

Also visit my webpage - facebook of sex

Anonymous said...

I love your blog.. very nice colors & theme.
Did you design this website yourself or did you

hire someone to do it for you? Plz answer back as I'm looking to construct my own blog and

would like to find out where u got this from. thank you

my web site: homeschooloftheblogosphere.blogspot.ru

Anonymous said...

Pretty nice post. I just stumbled upon your weblog and wished to mention


that I have truly loved browsing your weblog posts.
After

all I’ll be subscribing to your rss feed and I'm hoping

you write once more very soon!

my web site - bar Jobs Spain Accommodation