KATHMANDU, Feb 27: The government carried out a budget transfer worth Rs 22.75 billion during the first seven months of the current fiscal year.
The records with the Ministry of Finance (MoF) show the government made the largest amount of budget transfer in one month between mid-December and mid-January. During this period, a total of Rs 22.02 billion was transferred mainly to finance liabilities borne on treasury bills.
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Budget transfer means moving funds from one assigned programme or project to another. In many cases, government agencies seek to adjust budgetary allocations after being unable to spend the earmarked money.
According to the MoF, the government made most of the cash transfer for debt financing on the borrowings taken through treasury bills from the money collected from issuance of development bonds. Some amount was transferred also for upgradation of the access road to the landfill site at Banchare Danda, the location that is sought as an alternative to Sisdole for waste management of the Kathmandu Valley.
