Pre-budget discussion concludes; FinMin responds lawmakers' queries

KATHMANDU, July 2:

The pre-budget discussion on the budget for upcoming fiscal year 2072-73 BS (2015-16 AD) has concluded at the meeting of the Legislature-Parliament on Thursday.

Speaker Subas Nembang informed that the Finance Minister will be provided with a note in writing to formulate a budget within the ambit of its Principles and Priorities in keeping with the recommendations.

Deliberations were made on Principles and Priorities (excluding tax proposal) of the budget as part of the preparation for presenting the Appropriation Biill of fiscal year 2072-73 BS to the parliament.

aking part in the deliberations, lawmakers have noted the tendency to hasten for the construction of Budhigandaki Hydropower bearing the cost of Rs 15 per unit but reluctance to construct Karnali Hydropower with the costing of Rs 3 per unit has weaken the development status of the country.

"The budget formulation should align the formation of national capital. Give special attention on the aspects of balance while formulating the budget", the lawmakers suggested.

Lack of delicate balance between development, public spending and investment was pushing back the country, they said, underlining the need for expanding grants to youths so as to attract them to agro sector.

The roadmap for investment should be determined in line with federalism and the budget be focused on the reconstruction of infrastructures left damaged by the earthquake. The lawmakers taking part in the deliberation suggested the government increase budget allocation on electoral constituency development programme as well, giving priority to employment creation, irrigation facility, tourism development and promotion of agricultural sector. District headquarters of large districts in the Karnali zone are yet to be connected with road network, they said, demanding the budget allocation towards that end.

Other suggestions included the clear draft and work plan of political parties on development model, areas for budget priority, preparation of budget on the basis of annual calendar, serious homework by the Finance Ministry on expending of development budget, guarantee of well-managed settlements in view of the recent earthquake damages, special attention on investing on road, transport and other infrastructures, and early completion of the projects of national pride.

A total of 43 parliamentarians took part in the pre-budget discussion. The Legislature-Parliament would meet next on July 4. RSS

Source: Republica