Finance Minister Prioritizes Efficient Budget Allocation for Feasible Projects in Fiscal Strategy

Finance Minister Barshaman Pun has declared the government's intent to allocate the budget solely to projects capable of effective expenditure during a meeting with ministry secretaries and security chiefs at the Finance Ministry.

Minister Pun highlighted the imperative for government agencies to enhance their spending capacity, noting that most ministries, excluding the Ministry of Energy, Water Resources, and Irrigation, had achieved less than 40 percent capital expenditure. He attributed limited capital spending to both capacity issues and unrealistic project allocations, vowing a shift in approach for the upcoming fiscal year to prioritize feasible projects.

In his address, Minister Pun underscored that unrealistic projects would not receive budgetary allocations in the forthcoming fiscal year. He emphasized the adverse effects of budget implementation delays on employment generation and capital formation, urging an end to the trend of sluggish expenditure. Despite challenges in revenue collection, Minister Pun noted gradual improvements in the external sector but warned that insufficient capital spending poses economic concerns, necessitating a concerted effort to enhance expenditure efficiency.