Addressing a meeting of secretaries of all ministries regarding the budget implementation plan for the fiscal year 2083/84 held at the ministry on Monday, he directed them to start implementing the budget.
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Finance Minister Swarnim Wagle has directed the secretaries to implement the budget with a plan to achieve 100 percent capital expenditure and revenue targets.
Addressing a meeting of secretaries of all ministries on the budget implementation plan for the fiscal year 2083/84 held at the ministry on Monday, he gave this instruction.
Stating that the new budget that has been implemented is the beginning of the first installment under the government's 5-year economic roadmap, he instructed the secretaries to correct the disappointment of the past capital expenditure and the weakness of revenue collection.
He has instructed them to work in a way that the situation of not being able to make the specified capital expenditure and not being able to collect revenue is not experienced again.
'Capital expenditure in the past fiscal year was disappointing. The total was only about 49 percent. Revenue also did not rise above about 1.25 trillion,' Finance Minister Wagle told the secretaries, 'This result is not acceptable in the current new budget. At least 80 percent capital expenditure should be made. The revenue collection target of Mission 1.6 trillion should be achieved.'
He urged the secretaries to confidently inform the Ministry of Finance about the legal and practical difficulties necessary for budget implementation and to proceed with the work in a planned manner.
He also urged the concerned ministries to make good use of the authority to transfer funds and detail the budget allocations that the Ministry of Finance has been doing since the last fiscal year to facilitate budget implementation.
