Govt pursues policy of budget transfers to increase expenditures

Govt pursues policy of budget transfers to increase expenditures
By Republica
Published: April 14, 2024 10:15 PM

KATHMANDU, April 14: The Ministry of Finance has pursued a policy of budget transfer, program amendments, and scaling up expenditures from the budget allocated under the 'miscellaneous' heading.

According to the Secretariat of Finance Minister Barsha Man Pun, in the past month alone, Rs 1.63 billion has been disbursed through government agencies following budget transfers. Similarly, the government has revised programs worth Rs 2.63 billion and used Rs 36.50 billion allocated under the heading of miscellaneous expenditures.

To move funds among the programs under the same budget heading is referred to as program amendments.

The Financial Procedures and Fiscal Responsibility Act incorporates provisions for budget transfers, and the ministry aims to increase budget expenditure within the limits set by the Act.

Among the total budget of Rs 1.63 billion managed through budget transfers, the highest transfers have been made by the Ministry of Health and Population (Rs 644 million) and the Ministry of Physical Infrastructure and Transport (Rs 488 million).

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