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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Budget implementation: Ministries asked to submit plans by Sept 07

| Updated: September 12, 2020 09:41:18


Budget implementation: Ministries asked to submit plans by Sept 07

The government has asked its ministries/divisions to submit their budget implementation plans within September 07, 2020 with a view to reviewing the trends in revenue receipts and expenditures against the target set in the current fiscal budget, officials said.

To this effect, the finance ministry has sent letters to the ministries, divisions and different state entities, seeking information in this regard within the stipulated time, they added.

When contacted, a senior official of finance division said the finance minister will prepare a report on implementation progress and trends in receipts and expenditures of the current budget.

Different ministries/divisions/agencies have achieved considerable expertise in fixing annual budgetary target, and preparing budget on the basis of priority and other performance indicators. Timely and efficient budget implementation is still a major challenge, he added.

The presentation of budget implementation plan and monitoring reports will be delayed in the parliament if the ministries/divisions/other agencies concerned submit plans after scheduled time, the official said.

According to Section 15(4) of Public Money and Budget Management Act 2009, "The finance minister shall review quarterly the trends of revenue receipts and expenditures against set out in the budget and shall submit a statement in the ensuing session of the parliament on results of aforesaid review and report on possible measures."

A good number of programmes has been taken up in the current fiscal year. So, it is required to adopt specific and time-bound plans to implement the programmes, according to a finance ministry document.

The ministries/divisions/other agencies  should prepare budget implementation plans aiming to ensure proper implementation of the budget, it added.

The government in June last unveiled the national budget for the fiscal year 2020-21 with a record outlay of Tk 5.68 trillion. Last fiscal year's budget size was Tk 5.23 trillion.

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