KATHMANDU: Finance Minister Bishnu Poudel has acknowledged that the government is facing difficulties in meeting its expenses due to challenges in revenue collection.
Speaking during the House of Representatives meeting on Sunday, Minister Poudel explained that, as a result of the revenue shortfall, a low budget had been allocated under the mandatory liability heading in the current fiscal year’s budget.
He noted that despite setting a target to collect 31 percent of the revenue, the allocated budget for mandatory liabilities remains insufficient.
“Our general expenditure is exceeding our revenue. This has caused delays in returning to fiscal discipline while preparing the budget,” Poudel said.
“We should not delay any longer. This amendment bill has been introduced with the goal of ensuring that we seriously take responsibility in returning to discipline while preparing the budget.”
He further explained that ensuring discipline in budget allocation had become difficult, especially with the addition of 11,000 new development projects in the current fiscal year.
Comment