Public Finance

Public finance represents the foremost role of the government in the economy. Being a vital part of economics, it assesses the revenue and expenditure of the public authorities. Whereas, public financial management denotes the collection of sufficient resources from the economy, allocation and use of such resources efficiently and effectively. In other words, resource generation, resource allocation, and expenditure management (resource utilization) are the essential components of a public financial management system.
To this end, the MaDRA has worked with the World Bank Group, Nepal and the Effective Development Financing Coordination Project of UNDP to support the National Natural Resource and Fiscal Commission and the Ministry of Finance of GoN respectively. The study reports clearly outlined the equalization grants distribution modality to the province and local level, and suggested the development cooperation project selection criteria, negotiation procedures, project/program management cycles and the role of each stakeholder as well as the PFM system of the GoN in context of federal set-up.