The Ministry of Finance has formed a taskforce to draft legislation aimed at strengthening budget discipline across all tiers of government.
The taskforce is coordinated by Mahesh Baral, Head of the Financial Federalism Coordination Division at the ministry. Other members include:
- Undersecretary of the Budget Division, Ministry of Finance
- Undersecretary of the Legal and Decision Division, Ministry of Finance
- Subject Expert and Former Joint Secretary Nirmalhari Adhikari
The Member Secretary of the taskforce is an undersecretary from the Financial Federalism Division.
The formation of the taskforce aligns with Clause 359 of the Fiscal Year 2082/83 Budget Speech, which emphasizes:
- Enhancing the effectiveness of public finance through efficient budget allocation
- Strengthening cash flow management to maintain balance in the federal consolidated fund
- Ensuring productive use and sustainability of public debt
- Implementing the National Public Finance Management Reform Strategy
Similarly, Clause 371 of the budget outlines the development of legislation to improve budget discipline in federal, provincial, and local levels, including a uniform standard for public expenditure applicable to all three levels of government.
The taskforce’s mandate also stems from Article 59 of the Constitution, which states that budget deficit management and legal financial discipline across all levels of government shall be governed by federal law.
The Finance Ministry aims to implement the legal provisions outlined in the budget through this newly formed taskforce.
