June 12, 2014
The House deliberated at length on tax measures to be taken by the government during the Financial Year 2014 and unanimously endorsed the Tax Bill with the recommendations. (Click here for the recommendations).
The house further deliberated and endorsed the recommendations on the Budget & Appropriation Bill for the Financial Year 2014-15. (Click here for the recommendations).
The proposed recommendations will be submitted to the National Assembly for consideration.
On Monday 16th June 2014, there will be a joint sitting of the two Houses of Parliament to deliberate on the Annual Audit Report 2013 to be presented by the Public Accounts Committee (PAC).
June 11, 2014
The 17th sitting of the 13th Session of the National Council witnessed the introduction of the Budget & Appropriation Bill 2014-2015 by the Minister for Finance and the adoption of the supplementary budget Appropriation Bill for the Financial Year 2013-14.
In presenting the Budget & Appropriation Bill 2014-15 to the House, the Hon’ble Minister highlighted the summary of annual financial statement, past macroeconomic performance, revised budget estimate for the financial year (FY) 2013-14 and FY 2014-15, tax measures, macro-economic outlook in the medium term, report on the state owned enterprises, report on Royal Monetary Authority and National Pension and Provident Fund, and the report on trust funds.
The members sought clarifications from the Minister on various aspects of budget such as increase in the current expenditure vis-à-vis decrease in capital expenditure, criteria for budget allocation for black topping of farm roads and urban development, taxation on alcohol and other domestic products; government subsidies, inflation, employment etc. Read More »