Union Budget: Vice-Senior General Attends Coordination Meeting

Vice-Chairman of the Financial Commission Vice-Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win attended the coordination meeting to submit the six-month Union budget from October 2021 to March 2022.
In the meeting on Tuesday in Nay Pyi Taw, the Vice Senior General said that as the national plan, the annual budget and tax bill must be enacted regularly on a yearly basis in accord with Section 100 (b) of the Constitution, such processes must be undertaken in line with the existing laws and procedures. Now, the financial year will be re-changed from 1 April to 31 March starting from the 2022-2023 financial year. The interim budget will be drawn for six months from 1 October 2021 to 31 March 2022.
The country faces some economic loss with declining incomes including that from taxes and other ordination income. Hence, the country may face a continuous decline in income in the coming six months. However, the government must spend the expenditure on prevention, control and treatment of COVID-19 without fail and union ministries need to scrutinize the expenditures as much as they can.
The estimated income must be actual income to be gained within six months during the six-month budget period, and the estimated expenditure must be actual cost within six months. It was found that the Ministry of Planning and Finance scrutinized and submitted the six-month estimated budget drawn by Union level departments and organizations in line with policies, financial rules and procedures adopted by the State.
In so doing, the projects at the Union level must not be overlapped with that of regions and states. Attendees reported on matters including drawing the estimated expenditures for Union level departments and organizations for six months, available income and successful implementation of the projects, the progress of scrutiny for the budget accounts of Union level departments and organizations for six months from October 2021 to March 2022, and appropriation for the unusual expenditures, findings from the estimated budget of Union level departments and organizations, and inspection of accounts, construction of warehouses and the natural disaster information centre for relief supplies in four townships of Shan State, an extension of the organization set up of the National Unity and Peace Negotiation Department of the Office of the Government, and increased allotment of the budget for soonest implementation of Kengtung Dam project in Yaksawk Township of Shan State.
In his concluding remarks, the Vice-Senior General said that the reports of relevant central and ministerial levels will be submitted to the financial commission.
When the commission approved it, the bill on the six-month Union budget from October 2021 to March 2022 will be submitted to the Provisional Government with the recommendation of the financial commission and then seek approval from the State Administration Council.