Most Attractive Budget Announcements Remain Limited to Statements, Auditor General’s Report Reveals

According to the 63rd report of the Auditor General, most of the attractive announcements mentioned in the budget statement for the fiscal year 2081/82 have not been implemented. Although the government declared a decade of agricultural investment, the program to provide capital and loans to 300 producer institutions has yet to be executed. Revenue collection reached only 84.28 percent of the target, and the Auditor General has recommended making the tax system more technology-friendly and transparent. Dated Jestha 5, Kathmandu.

The Government of Nepal has revealed that many promising budget announcements remain confined to press releases. The Auditor General’s report states that many of the attractive initiatives outlined in the budget statement for fiscal year 2081/82 have not been put into action. The decade of agricultural investment declared for 2081 to 2091 has not been implemented effectively.

The Auditor General noted that there is no report on the execution of the program aimed at providing initial capital and easy loans secured by agricultural produce to 300 producer institutions, primarily focusing on highways. Legal provisions for domestic liquor branding, establishment of a sovereign wealth fund, and initiation of amendment processes for the Nepal Rastra Bank Act and the Foreign Exchange Act have also not begun.

The Auditor General emphasized, ‘All taxable activities should be brought under the tax net to expand the taxpayer base. Likewise, the revenue system must be made technology-friendly, automated, transparent, and taxpayer-friendly to increase tax participation and revenue mobilization.’ The government achieved only 84.28 percent of its revenue collection target for the fiscal year 2081/82.