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The Bagmati State Government has said that due to the fact that the subsidy provided by the Union Government is being reduced and the revenue sources cannot be increased, it is also difficult to prepare the budget for the coming year.
It has been mentioned in the details released by the ministry that the budget cannot be made due to the non-receipt of funds for financial equalization grants and revenue sharing.
on Wednesday In the 'budget discussion on federalism' organized in the federal capital, Secretary of Bagmati Province Economic Affairs and Planning Ministry Krishna Prasad Mainali presented the 14-point details and said that due to the lack of resources, how to make the budget is a challenge.
Union's former Finance Ministers, state and local level people's representatives, Bagmati Province Chief Minister, Provincial Policy and Planning Commission officials, Finance Commission officials, provincial ministry secretaries participated in the program. Secretary of the Ministry of Economy Mainali said that the financial management is very weak to implement not only the new but also the schemes started in the past .
In the details presented by the ministry, it has been mentioned that the province has collected only a small amount of revenue from agriculture and forestry. Secretary Mainali said that up to 90 percent of the province's income depends on the budget given by the union and said that there is a problem in the implementation of the plan because the share of income cannot be increased.
Complaining that the union has not sent the sources of revenue to the state, Economic Affairs Secretary Mainali reminded that the subject structure of the federal government is being established in a hurry and said that this has hindered the development of the federal system.
Bagmati Province Ministry of Economic Affairs and Planning and in coordination with the Federalism and Localization Center organized with the aim of assisting in budget creation and implementation, the idea was presented that the federal system cannot be strengthened by focusing only on budget allocation without increasing revenue.
