The government tabled a proposal Tuesday to amend the Interim Constitution to avoid possible a financial crisis that might emerge as the government is likely fail to present a new fiscal budget due to the prolonging political impasse.
Among other points, the proposed amendment would allow the government to make expenditures equivalent to a third of the real expenditure of the current fiscal in the next fiscal year if the government fails to bring a new budget due to various reasons.
Likewise the amendment, if endorsed by the Constituent Assembly, would also authorize mobilization of revenue as per the existing Financial Act. The expenditure will be included in the appropriation bill that the new government will present in the CA meeting as the fiscal budget for the next financial year.
Source: eKantipur
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Wednesday, July 9, 2008
Financial rules change mooted
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