Sunday, September 12, 2021

Finance Minister claims to spend at least 10 per cent of capital budget every month

 The Finance Minister today claimed to spend at least 10 per cent of the capital budget every month.

Speaking at a press meet organised by the Finance Ministry here today, finance minister Janardan Sharma claimed that the government will spend at least 10 per cent of the capital budget every month. "As there is a possibility of spending capital budget, we have increased the budget for the capital expenditure for the current fiscal year," he added.

The government has revised the capital budget upward -- through the substitution bill -- by Rs 3.84 billion to Rs 378.10 billion.

However, the eroding capacity of the government machinery is not expected to spend the capital budget as assumed by the finance minister. In the last fiscal year 2020-21, the government had been able to spend only 64.69 per cent of total allocated capital budget.

The governments have never been able to spend more than Rs 110 billion even during the last four years period of strong and stable government led by KP Sharma Oli. Of the current fiscal year too, almost two months have already passed without implementing the budget. The Oli-led government had brought an ordinance budget on June 30 (Jestha 15, according to the Constitution). But the incumbent government directed the  ministries not to implement the budget as it will revise the budget. The finance minister Janardan Sharma had brought a substitution bill to replace the ordinance budget that is seen as more ambitious. 

Sharma claimed that the government will expedite the development projects along with necessary manpower. "Similarly, the government will be carrying out monitoring the development projects through digital platforms for the effective utilisation of the capital budget," he assured.

No comments: