Kathmandu. Finance Minister Dr Swarnim Wagle has directed the secretaries to implement the budget with a plan to achieve cent per cent capital expenditure and revenue target.

He made the directive while addressing a meeting of secretaries of all ministries on the budget implementation plan for the fiscal year 2083/84 held at the Ministry on Monday. Stating that the new budget was the beginning of the first tranche of the five-year government’s economic roadmap, he directed the secretaries to correct the disappointment of past capital expenditure and weakness in revenue collection.

He directed them to work in such a way that they do not have to face the situation of not being able to spend the prescribed capital expenditure and collect revenue.

“The last fiscal year was disappointing in capital expenditure. Only about 49 percent. Revenue has not been raised more than Rs 12.5 trillion,” Wagle told the secretaries, “This result is not acceptable in the current budget.” At least 80 percent should be capital expenditure. The mission should meet the revenue collection target of Rs 16 trillion. ”

He urged the secretaries to convey the legal and practical difficulties required for the implementation of the budget to the Ministry of Finance without any hesitation and to proceed with the work in a planned manner.

He also said that the Ministry of Finance has delegated the authority to the ministries concerned to transfer the amount and expand the budget for the implementation of the budget since the last fiscal year and urged them to utilize it.