Govt transfers over Rs 23 billion budget in seven months


March 1, 2023


Govt transfers over Rs 23 billion budget in seven months

Building of the Ministry of Finance at Singha Durbar in Kathmandu. (File photo/Khabarhub)

KATHMANDU: The government has transferred nearly Rs 44.74 billion budget in the seven months of the current fiscal year 2022/23.

According to the report of the Finance Ministry, Rs 63.1 billion was agreed for the resources to multiyear projects in this period.

Similarly, a total of 129 persons were provided financial assistance in this period, thereby spending Rs 54.6 million.

The financial assistance was provided based on a Cabinet decision. The amount under the heading of ‘finance miscellany’ has also been released by the government.

As per Rule 32 of Financial Work Procedure and Fiscal Liability Regulation, 2077, the government cannot transfer the budget nor can it make additional release in the initial three months of the fiscal year.

Going against this Regulation, the government transferred the amount of Rs 300 million in Bhadra month alone and released additional amount of Rs 2.25 billion, according to the Finance Ministry.

As per the report, Rs 200 million allocated for Department of Railways was transferred to Road Division Office, Doti for the land compensation purpose last July/August.

Similarly, Rs 100 million budget allocated for National Information Technology Centre under the Ministry of Communications and Information Technology was transferred to the construction of a building for Postal Office Orientation Centre.