Non-budgetary transfer a financial crime
KATHMANDU, July 12:
The government’s transferring of non-budgetary income under revenue head is a financial crime, according to experts.
Economists and former beareaucrats also urged the legislative parliament to investigate it seriously. “Transferring non-budgetary income to revenue is a corruption,” said former chief secretary Dr Bimal Koirala.
“The action reflects the government irresponsibility towards nation and its people,” he said, addressing a programme at Reporters’ Club today. “It should be minutely examined by the legislative committee,” he said, adding that the government has transferred Rs 1.84 billion to show increase in revenue.
After many years, the government this fiscal year failed to meet revenue target. The budget had targeted to mobilise Rs 216.64 billion revenue in the current fiscal year, but the Finance Ministry could mobilise only Rs 180 billion by June 24. And the target is going to be shortfall by more than Rs 10 billion by the end of the current fiscal year.
Economist and Constituent Assemble member of the CPN (UML) Dr Bijaya Paudel pointed out it as the government’s misleading action to the public. “Government should not tamper with data,” he said, adding that it would not only hamper the economy but also loose credibility of the Finance Ministry that has been under regular critism in the recent months for such irresponsible acts.
He suggested the government to revise the mistake immediately.
Another economist Dr Chiranjivi Nepal termed it as ‘ill intention’ of the government. “It reflects the government mentality and multiplies suspicion on the next budget that is going to be distributive,” he said, adding that the government is not transparent and pro-people but populist.
The central bank has transferred the amount in the treasury statement of June 17 and 24. The ‘illegal transfer’ can also attract probe from the government anti-graft body, Commission for Investigation of Abuse of Authority (CIAA) under corruption.
Nepali Congress leader and CA member Dr Prakash Sharan Mahat also questioned government’s intention.
“The government is distributing Rs 1 million in the name of conflict-hit people,” he said, adding that the CPN (UML) and UCPN-Maoist are making room to feed its cadres in the name of martyrs and conflict-hit people.
Such populist programmes do not empower people and further hurt trade deficit, fuel liquidity crunch, lower productivity and higher inflation, he said.
According to Mahat, the transition government should give priority to peace process and constitution as well as major economic issues like controlling price hike, solving energy crisis and building infrastructures for future development projects.
UCPN-Maoist CA member Dev Gurung refused to comment on non-budgetary transfer and his party’s demand to provide Rs 1 million to the martyrs and conflict-hit. However, he said that the budget for next fiscal year should address problems of financial and capital market as well as real estate sector. “The budget should solve current economic and financial problems and provide relief to people from price hike,” he said.
Minister takes decision back
Finance Ministry reversed its decision of transferring non-budgetary income to revenue. Finance Minister Bharat Mohan Adhikari corrected his earlier decision after criticism. Adhikari ordered Nepal Rastra Bank on Monday to reverse its decision of transferring Rs 1.84 billion from one head to another. “After realising mistake, we corrected it,” said finance secretary Krishna Hari Baskota, who hd earlier directed the NRB to transfer the amount. Meanwhile, the ministry has also formed a three-member committee under executive director of NRB including joint secretaries of the ministry and Office of the Auditor General to investigate the issue.
But, ministry officials suspected the committee’s willpower to probe finance minister, secretary and NRB governor.
Source: THT
The government’s transferring of non-budgetary income under revenue head is a financial crime, according to experts.
Economists and former beareaucrats also urged the legislative parliament to investigate it seriously. “Transferring non-budgetary income to revenue is a corruption,” said former chief secretary Dr Bimal Koirala.
“The action reflects the government irresponsibility towards nation and its people,” he said, addressing a programme at Reporters’ Club today. “It should be minutely examined by the legislative committee,” he said, adding that the government has transferred Rs 1.84 billion to show increase in revenue.
After many years, the government this fiscal year failed to meet revenue target. The budget had targeted to mobilise Rs 216.64 billion revenue in the current fiscal year, but the Finance Ministry could mobilise only Rs 180 billion by June 24. And the target is going to be shortfall by more than Rs 10 billion by the end of the current fiscal year.
Economist and Constituent Assemble member of the CPN (UML) Dr Bijaya Paudel pointed out it as the government’s misleading action to the public. “Government should not tamper with data,” he said, adding that it would not only hamper the economy but also loose credibility of the Finance Ministry that has been under regular critism in the recent months for such irresponsible acts.
He suggested the government to revise the mistake immediately.
Another economist Dr Chiranjivi Nepal termed it as ‘ill intention’ of the government. “It reflects the government mentality and multiplies suspicion on the next budget that is going to be distributive,” he said, adding that the government is not transparent and pro-people but populist.
The central bank has transferred the amount in the treasury statement of June 17 and 24. The ‘illegal transfer’ can also attract probe from the government anti-graft body, Commission for Investigation of Abuse of Authority (CIAA) under corruption.
Nepali Congress leader and CA member Dr Prakash Sharan Mahat also questioned government’s intention.
“The government is distributing Rs 1 million in the name of conflict-hit people,” he said, adding that the CPN (UML) and UCPN-Maoist are making room to feed its cadres in the name of martyrs and conflict-hit people.
Such populist programmes do not empower people and further hurt trade deficit, fuel liquidity crunch, lower productivity and higher inflation, he said.
According to Mahat, the transition government should give priority to peace process and constitution as well as major economic issues like controlling price hike, solving energy crisis and building infrastructures for future development projects.
UCPN-Maoist CA member Dev Gurung refused to comment on non-budgetary transfer and his party’s demand to provide Rs 1 million to the martyrs and conflict-hit. However, he said that the budget for next fiscal year should address problems of financial and capital market as well as real estate sector. “The budget should solve current economic and financial problems and provide relief to people from price hike,” he said.
Minister takes decision back
Finance Ministry reversed its decision of transferring non-budgetary income to revenue. Finance Minister Bharat Mohan Adhikari corrected his earlier decision after criticism. Adhikari ordered Nepal Rastra Bank on Monday to reverse its decision of transferring Rs 1.84 billion from one head to another. “After realising mistake, we corrected it,” said finance secretary Krishna Hari Baskota, who hd earlier directed the NRB to transfer the amount. Meanwhile, the ministry has also formed a three-member committee under executive director of NRB including joint secretaries of the ministry and Office of the Auditor General to investigate the issue.
But, ministry officials suspected the committee’s willpower to probe finance minister, secretary and NRB governor.
Source: THT
