KATHMANDU: Only 25% of the private sector-related plans and programs outlined in last fiscal year’s budget have been fully implemented, according to a report released today.
The ‘Budget Watch’ report, prepared by the Confederation of Nepalese Industries (CNI) and the Society of Economic Journalists of Nepal (SEJON), revealed that of the 73 points related to the private sector and economy included in the fiscal year 2023/24 budget, implementation was largely inadequate.
While 18 points were fully implemented, 51 points were partially enforced, and four points were not implemented at all, the report stated.
During the report’s launch, Chief Secretary of the Government of Nepal, Leela Devi Gadtaula, emphasized that thematic ministries and subordinate agencies must take responsibility for effectively implementing the government’s annual budget.
Gadtaula noted that the government is preparing a list of new initiatives and programs to be executed within 100 days, stressing the importance of setting priorities and accelerating their implementation.
Gadtaula added that achieving desired results is possible when concerned ministries and agencies work responsibly and are accountable for the budget’s execution.
CNI President Rajesh Kumar Agrawal explained that the ‘Budget Watch’ initiative was launched to monitor the implementation status of the government’s budget commitments.
He expressed hope that the report’s conclusions and findings would be valuable to policymakers and the government.
According to Agrawal, while there was some progress in budget implementation last fiscal year compared to the previous year, the overall implementation status remains bleak.
The report highlighted that most of the points included in the budget were related to policy and law formulation.
However, due to the lack of acts, regulations, legislation, and procedural guidelines, many programs and plans could not advance.
