Kathmandu. The Ministry of Finance has formed a task force to formulate laws to strengthen budget discipline. Mahesh Baral, chief of the Financial Federalism Coordination Division at the Ministry of Finance, is the coordinator of the taskforce.
The members are Deputy Secretary of the Budget Division of the Ministry of Finance, Under-Secretary of the Law and Decision Division of the Ministry of Finance and former Joint Secretary Nirmal Hari Adhikari as subject expert. Under-secretary of the Financial Federalism Division is the member secretary of the task force.
Point no. 359 of the budget statement for the current fiscal year states that the effectiveness of public finance will be increased by maintaining the efficiency of appropriation, increasing the achievement of public expenditure through budget discipline, and strengthening cash flow management to balance the federal consolidated fund. Similarly, it has been stated to ensure productive utilization and sustainability of public debt and implement the National Finance Management Reform Strategy.
Point no. 371 of the budget states that laws will be formulated to strengthen budget discipline at the federal, provincial and local levels as specified in the constitution and public expenditure standards will be formulated to be applicable at all three levels.
The Ministry of Finance has formed a task force to implement the provisions in the budget.
Article 59 of the constitution states that provisions related to budget deficit management and other law discipline at the federal, provincial and local levels will be in accordance with the federal law.
