24 January, Kathmandu: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel have instructed the Ministry secretaries to increase capital expenditure and reduce current expenditure.
In the discussion on the country’s overall economic situation and implementation of the budget held at the Ministry today, DPM Poudel stressed giving special priority to capital expenditure and resorting to strict revenue management.
He urged the concerned authorities to spend the allocated funds under all the headings only on the same heading, discourage the expenditure of the current nature, and not seek additional funds under any title except for mandatory obligations.
Mentioning that the revenue administration will be carried forward with the help of the home administration to address irregularities in revenue mobilization, the Finance Minister directed the secretaries of the relevant ministries to support making revenue mobilization effective.
Secretary at the Ministry, Toyam Raya, said the Ministry has already started adopting austerity measures and cost reduction and expected other ministries to follow suit.
Revenue Secretary Dr. Ram Prasad Ghimire requested all agencies to cooperate in controlling revenue leakage while working proactively in non-tax revenue collection.
Joint Secretary and Spokesperson of the Ministry of Finance, Anand Kafle, shared that the revenue collection as of the end of the month of Poush is Rs. 490 billion against the target of 651 billion, capital expenditure is Rs 53.45 billion among the total allocation of Rs. 100.8 billion, and current expenditure is Rs. 455 billion against the allocated 594 billion.
