Saturday, May 18, 2019

House panel recommends to prioritise budget

A House panel has recommended the government to prioritise industrial sectors that help generate employment in the budget for the nest fiscal year.
The Finance Committee of the Legislature Parliament – submitting a 12-point recommendation to the government for the budget of next fiscal year – suggested to focus on road connectivity, energy generation and construction of tourism infrastructure.
Likewise, the budget should maintain balance while delegating authority to local and provincial governments so that no work responsibility is duplicated, the recommendation reads adding that the budget should address issues related to modernising the agricultural sector, promoting new agricultural technologies and scientific researches for the development of the agricultural sector. “Besides, the government should complete the reconstruction and resettlement of earthquake victims without being biased towards any one particular area.”
The major target of next fiscal year’s budget should also concentrated on promoting exports and substitute imports, the panel recommended, adding, “Besides, the budget should be implemented in such a manner that it secures the fundamental rights of the people such as health, education, shelter and social security.”
The Finance Committee has been holding pre-budget discussions with stakeholders since mid-April. During the discussions, the full-committee meeting today has provided recommendations to the government related to public procurement law, budget management, development project management, agriculture, industry promotion, infrastructure development and revenue management.
The panel has also recommended distribution of grants and royalty, control on corruption and promotion of financial good governance along with smooth flow of services, generating jobs and labour management. “The budget should focus on development and improvement of local and provincial governments, data collection and management, market monitoring, education and research along with the health sector,” chairman of the committee Krishna Prasad Dahal said, adding that the House panel’s recommendation has already been submitted to Finance Minister Dr Yubaraj Khatiwada and the National Planning Commission.

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