Thrust Of Budget

The government is going to unveil the budget for the upcoming fiscal year 2024/25 within less than a week in line with policy and programmes that it had already presented in the House of Representatives (HoR). The Ministry of Finance is busy outlining the incomes and expenditures of the outlay whose effective implementation remains a challenge owing to several factors. There has been a tendency to bring out ambitious budget that apparently undermines fiscal principles and discipline. The inclination to appease various political constituencies meets financial and institutional difficulties on the ground. The ministry is under pressure to allocate greater amount of budget for those who call the tune. When there is a gap between the revenues and spending, it delays in the allocation of budget for the development projects. Moreover, as the country’s economy has not yet gained full recovery, realising all budgetary goals is fraught with unintended obstacles.