Government expedite budget transfers policy to accelerate expenditures

The Ministry of Finance has pursued a policy of budget transfers, programme amendments, and scaling up expenditures from the budget allocated under the ‘miscellaneous’ heading.

According to the Secretariat of Finance Minister Barsha Man Pun, in the last month alone, Rs 1.63 billion has been disbursed through government agencies following budget transfers. Similarly, programmes worth Rs 2.63 billion have been revised, and Rs 36.50 billion allocated to miscellaneous expenditures has been used.

To move funds among the programmes under the same budget heading is referred to as programme amendments.

The Financial Procedures and Fiscal Responsibility Act incorporates provisions for budget transfers, and the Ministry aims to increase budget expenditure within the limits set by the Act.

Among the total budget of Rs 1.63 billion managed through budget transfers, the highest transfers have been made by the Ministry of Health and Population (Rs 644 million) and the Ministry of Physical Infrastructure and Transport (Rs 488 million), it is said.