Maintain austerity: Finance secy

KATHMANDU:

Finance Secretary Shanta Raj Subedi has directed officials concerned to prepare a guideline for maintaining austerity in a bid to check soaring regular expenditure. At a meeting held on Sunday to assess the progress in budget implementation by the Ministry of Finance until mid-November and prepare plans for the next month, Subedi also instructed officials to prepare expenditure, mobilization of revenue and foreign aid projections for the next two fiscal years. Amid slowing progress in revenue collection, Subedi also asked the officials to explore new measures for reducing revenue leakage by increasing efficiency of revenue administration. He also directed the officials to effectively implement the Treasury Single Account (TSA) -- one window system for record of income and expenditure of the government offices -- to maintain transparency in public spending.

Source: Republica