Kathmandu, April 26
The Ministry of Finance has proposed that provincial governments hold a pre-budget discussion in Provincial Assembly before actually presenting the annual budget statement.
The proposal states that the pre-budget discussion should begin one month prior to the budget announcement.
The Ministry has prepared the draft for Provincial Financial Procedures Act and it has now been circulated among stakeholders for feedback. The draft has be developed into a bill and endorsed by Parliament for its implementation.
The pre-budget discussion shall consider various issues including principles, goals, priorities and policies of the budget.
Meanwhile, the Ministry has clarified that provincial governments can formulate and implement their own act to regulate fiscal affairs if they wish, but it is not mandatory. Therefore, they will take the federal government’s provisions as a guideline, according to Under-Secretary Bhimsen Timalsina.