Business

Cabinet blamed for problematic budget estimating, allocation planning

The National Assembly Standing Committee (NASC) has requested the Government, ministries and sectors to learn from experience in budget estimating and allocation planning which have become problematic recently.
Cabinet blamed for problematic budget estimating, allocation planning ảnh 1Minister of Planning and Investment Nguyen Chi Dung speaks at the meeting (Photo: VNA)

Hanoi (VNA) – The National Assembly StandingCommittee (NASC) has requested the Government, ministries and sectors to learnfrom experience in budget estimating and allocation planning which have becomeproblematic recently.

At its ongoing 13th session, the committee onAugust 17 gave opinions on the Government’s adjustment to the central budgetplan in 2017 and the allocation and use of part of the central budget left overfrom 2016.

The Government reported capital was unable to beallocated to some investment projects of five ministries and sectors and twolocalities since these projects failed to meet the set criteria or did not havedemand for capital. Therefore, the Government proposed the NASC revoke over867.94 billion VND (38.2 million USD) to give to other ministries, sectors andlocalities that need funding.

Verifying the Cabinet’s report, the NA’sCommittee for Financial and Budgetary Affairs attributed the allocation failureand budget estimate revision to budget estimating and allocation planning notin line with the set criteria and principles.

As a result, there remain projects that are notincluded in the list of medium-term public investment or lack investmentprocedures but still receive funding.

Many NASC members agreed with the capitalrevocation, adding that the Government needs to order its ministries andsectors to learn from experience in budget estimating, while adhering to theallocation criteria and principles and the planned disbursement progress. Theymust also clarify the causes of slow capital disbursement so as to devisesolutions.

NA Chairwoman Nguyen Thi Kim Ngan also pointedout the responsibility of the Ministry of Planning and Investment, ministries,sectors, as well as the NA’s Committee for Financial and Budgetary Affairs andthe NASC in project verification and submission to the parliament for budgetallocation approval.

She stressed after budget estimates are made,new policies must not be issued to avoid an increase of needed capital.-VNA
VNA
#National Assembly Standing Committee #budget estimating #budget allocation planning #central budget #capital disbursement #updated Vietnam news #Vietnamplus #Vietnam News Agency
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