Govt transfers Rs 44.74bn in 7 months of current FY: FinMin report

KATHMANDU: The government has transferred a budget of nearly Rs 44.74 billion in seven months of the current fiscal year 2022/23. This is mentioned in the report the Ministry of Finance published including the issues of financial assistance, additional allocation, budget transfer and details on resources agreed. In the period of seven months, Rs 63.1 billion was agreed upon for the resources for multi-year projects. A total of 129 persons were provided financial assistance in this period, thereby spending Rs 54.6 million. The financial assistance was provided based on a Cabinet decision. The amount under the heading of 'finance miscellany' has also been released by the government. As per Rule 32 of Financial Work Procedure and Fiscal Liability Regulation, 2077, the government can neither transfer the budget nor can it make additional releases in the initial three months of the fiscal year. Going against this regulation, the government transferred the amount of Rs 300 million in Bhadra month alone and released an additional amount of Rs 2.25 billion, according to the Finance Ministry. As per the report, Rs 200 million allocated for the Department of Railways was transferred to Road Division Office, Doti, for the land compensation purpose last July/August. Similarly, a budget of Rs 100 million allocated for National Information Technology Centre under the Ministry of Communication and Information Technology was transferred for the construction of a building of Postal Office Orientation Centre. READ ALSO:

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