Discussion begins for upcoming budget, time to propose projects likely to extend

            Kathmandu, March 29: In the wake of formation of new government and timeline of annual budget, ministries began discussions for the formulation of upcoming budget. The National Planning Commission (NPC) had initial discussion with three ministries with the coordination of Finance Ministry on Sunday.

            Spokesperson at NPC, Hari Sharan Pudashaini, informed that NPC held a meeting with the Finance Ministry, the Foreign Ministry and the Ministry of Law, Justice and Parliamentary Affairs focusing on mid-term expenditure framework (MTEF), budget ceiling determined by the National Resource Monitoring Committee, and guidelines delivered by the Finance Ministry.

            “The discussion was launched to forward formulation of budget for the upcoming fiscal year, 2083/84BS. We dwelt on how the plans could be ensured effective by setting priorities within determined limit,” Pudashaini said, adding that each ministry needs preparing a proposal incorporating policies, programmes and budget as per Financial Procedure and Fiscal Responsibility Act, 2076. The budget ceiling and guidelines should be abided by while advancing the proposals to NPC and the Finance Ministry.

            Earlier, the Finance Ministry had given a deadline till today (Mach 29) to all ministries to forward their plans and project proposals. However, the ministries viewed they could not not pick a pace for it, citing the formation of new government. The Finance Ministry is likely to extend the time.

            “The ministries were reminded to enter the projects, plan and budget through line ministry budget information system (LMBIS) within today. The time for it could be extended to include the issues mentioned in 100-day governance reform plan, ruling parties’ election commitments and other reform schemes,” said Tank Prasad Pandey, Spokesperson at Finance Ministry.

            The ministries were asked to maintain a clear standard while proposing the budget.

            Meanwhile, the Finance Ministry informed that it was preparing an economic survey and a progress report of public corporation (Yellow Book) in parallel. —