The government has tabled the appropriation bill at the House of Representatives (HoR) for discussion.
In the budget session of the HoR that started on Sunday, Finance Minister Prakash Sharan Mahat forwarded the proposal to discuss the principles and priorities of the appropriation bill for the fiscal year 2023/24 at the lower house of parliament. The government, in the prelude of the budget announcement date of May 29, has forwarded the bill for authorization.
After the bill is endorsed from the HoR, the government will have to receive approval from the upper house. Once the bill comes into force, it will allow the government to spend the money allocated in the country’s annual budget.
Presenting the appropriation bill before parliament, Finance Minister Mahat said the government will give priority to only those projects that will ensure a high rate of economic and social returns. “While allocating expenses, the government will consider under priority the productive and result-oriented projects and programs,” reads the bill.
Through the bill, the government has expressed its commitment to economize recurrent expenditure within a certain limit, while maintaining fiscal discipline. The appropriation bill is expected to comply with the upcoming budget to address the current problems and challenges seen in the economy.
