KATHMANDU, April 15: Three years ago in July 2018, the two-thirds majority government led by Prime Minister KP Oli announced that it would not make any budget transfer until the third or last trimester in order to maintain fiscal discipline.

But the government has carried out budget transfers amounting to over Rs 97 billion in the first eight and a half months (mid-July to March end) of this fiscal year, flouting its own set rule. The Ministry of Finance (MoF) unveiled the facts on Tuesday in the parliamentary Finance Committee meeting after coming under pressure from the committee members.  

Budget transfer means transferring funds from one assigned program or project to another. In many cases, government agencies seek to adjust budgetary allocations after being unable to spend the earmarked money. Almost every year, the ministry allows large budget transfers toward the end of the fiscal year.