50 bn demand for local elections

Kathmandu: Finance Minister Janardan Sharma has said that the ministry is under pressure as the demand for the election is five times more than the amount allocated for the election in the current fiscal year’s budget.

Announcing the half-yearly review and evaluation report of the current fiscal year’s budget at the Ministry of Finance on Thursday, he said that the government has allocated Rs 10 billion in the current fiscal year’s budget but the demand has come to Rs 50 billion.

Speaking on the occasion, Finance Minister Sharma said that the budget size of the current fiscal year has been reduced by Rs. 86 billion.

In the current fiscal year, the government had reduced the budget brought by the previous government and brought replacement budget of Rs. 1632.83 billion.

He mentioned that the government has reduced it by Rs 86 billion to Rs 1.546 trillion in its mid-year review.

Finance Minister Sharma informed that only 94.7 percent of the allocated budget or Rs. 1.546 trillion will be spent in the current fiscal year.
Reviewing the current fiscal year, he said that the budget will not be spent in full size this year.