Nepalmountainnews Report | 9 Jul 2008
The cabinet, Tuesday, approved a seven-party decision allowing the government to make alternative arrangement for budget of the coming fiscal year, which begins from mid-July.
As the government is unable to present full-fledged budget this year, it will bring an advance appropriation bill allowing it to spend up to one-third of the total expenditure of the current fiscal year.
Likewise, the government will also be allowed to collect revenue for the time being.
The revenue and expenditure thus collected and incurred will later be adjusted in the full-fledged budget, which will be tabled at the Constituent Assembly – which also functions as a parliament – only after the head of state presents policies and programmes of the new yet-to-be-formed government.
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