Nation heading towards bankruptcy!

Nation heading towards bankruptcy!

Kathmandu, 15 June: Finance Minister Yubraj Khatiwada informed that the government is not even able to manage general expenditure from the government’s daily earnings.

Minister Khatiwada informed that every month the government needs 40 billion rupees to manage general expenditure, whereas, revenue received from different duties is just 15 billion rupees.

He informed that due to the economic slowdown following prolonged lockdown to control and prevent Covid-19, the government revenue has declined and in the coming months the situation can be improved.

He informed that the government is unable to manage civil servicemen’s salary from the nation’s monthly revenue.

Responding questions in the Parliament, the Finance Minister informed that the Ministry is going to transferee fund in other titles which are not active.

Of course, the Covid-19 pandemic has badly hit the economy but the government is facing such a crisis every year as the nation has adopted federalism, which is itself an expensive political system.

By size, Nepal is smaller than West Bengal, Bihar or UP, the Indian states. In such a country, seven provinces and 753 local bodies have been introduced under the influence of vested political interests by discarding the report of the state restructuring commission, a team of experts.

At the time when the political leaders were negotiating on the number of provinces, financial experts had already warned that Nepal cannot bear the financial burden of above three provinces and such a large number of local bodies, which has come true today.

Nevertheless, political leaders of the day, who were responsible to introduce such a mechanism have realized the mistake they have committed, yet, they are trying to hide the truth and pushing the nation towards bankruptcy.

People’s News Monitoring Service