Minister for Finance Barshaman Pun has presented one-third budget for the first four months of the Fiscal Year 2012/13, on Sunday. Minister Pun read out a budget of Rs. 161.24 billion public for the first quarter of the FY 2012/13 at the National Planning Commission, Singha Darbar.
The government has presented only one-third budget as a foundation for a political consensus and dialogue, said Minister Pun during the programme. "The opposition parties made the budget a matter of political test though the government tried its best to bring a complete budget," he said.
The government introduced only one-third of the total budget as per Interim Constitution Article 96 (a) after the opposition parties exerted continue pressure saying the caretaker government had no right to bring the full budget. The budget was proposed through the Ordinance in accordance with the Interim Constitution of Nepal- 2063 in order to continue government services and activities. Now, the money in the reserve fund would be used for the expenses.
Rs 51.29 billion will be spent from the reserve fund in the sector bearing credit in the reserve fund while Rs 161.24 billionwill be used for the service and activities.
Unveiling the one-third budget at the meeting hall of National Planning Commission , Finance Minister Barsha Man Pun has said the expense for constituent assembly election and allowance for voluntarily retired Maoist fighters has also been managed.
According to Minister Pun, Rs 3 billion has been allocated for the CA elections while Rs 3.69 billion for allowance to the ex-combatants and Rs 3 billion for the national development and formation of directorate general for army integration.
"As it was difficult to acquire the details of real expense immediately, the amount for one third is based on estimated revised expenditure," Minister Pun said.
Major industrialists and entrepreneurs have commented that not much could be expected from the one-third budget presented by the Government on Sunday as it was only enough to run the regular expenses of the government. Industrialist and former CA member Diwakar Golcha said political and economic agenda should be looked at differently and a full budget should have come accordingly.