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The Deputy Prime Minister and Finance Minister Bishnu Poudel on Monday instructed the government secretaries to increase capital expenditure and reduce current expenditure of their respective ministries. Since he took the charge of the Finance Ministry in December 2022, Poudel has zeroed in on two fronts of improving revenue collection and expedite capital expenditure and controlling recurrent expenditure. During a discussion program on budget implementation at the Ministry of Finance on Monday, Poudel highlighted the need to maintain fiscal discipline. His message to the secretaries was loud and clear. He said, "The situation of capital expenditure and revenue mobilization is worrying, and secretaries have to be strict in revenue management and give special priority to capital expenditure." Such is the state of poor government spending that seven ministries have spent less than 10 percent of their capital expenditure in the first half of the current fiscal year. Of them, the capital expenditure of four ministries is below five percent. As per the target, ministries should have spent 30 percent of their capital expenditure in the first six months of the fiscal year. The Finance Ministry's data shows none of the ministries have been able to spend capital expenditure as per the target. The capital expenditure of the ministries having large development budgets has also been dismal in this fiscal. The Ministry of Physical Infrastructure and Transport, the Ministry of Urban Development, the Ministry of Drinking Water, and the Ministry of Energy, Water Resources and Irrigation have not been able to utilize their capital expenditure of even 50 percent of the allocation. According to the Financial Comptroller General Office (FCGO), the government has spent just Rs 53.45 billion, which accounts for just 14 percent of the allocated capital budget since the start of the current fiscal year. This rate of development spending is similar to FY 2021/22 when the capital expenditure stood at 13.44 percent in the first half of the fiscal year. Finance Ministry officials say the poor revenue collection in the first half of the fiscal year has posed a new challenge, that of fiscal imbalance. Unlike in past years, the government's overall revenue collection has decreased significantly in this fiscal compared to the last fiscal year. The revenue administration has been struggling to meet the revenue target from the start of the current fiscal. As resource management becomes challenging, Poudel on Monday directed the secretaries not to ask for additional budget for any heading other than mandatory obligations. Citing the poor revenue collection in this fiscal, secretaries have been told to spend the funds only on the respective headings for which the budget has been allocated. Finance Ministry officials say maintaining fiscal discipline has become of paramount importance for now. Introducing cost-cutting measures, the ministry itself has implemented 17-point guidelines to reduce expenses. "We expect other ministries to follow us in this respect," said a senior official at the ministry.

The price of gold has dropped by Rs 100 per tola in the domestic market on Wednesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 106, 200 per tola today. The yellow metal was traded at Rs 106, 300 per tola on Tuesday. Meanwhile, the tejabi gold is being traded at Rs 105, 700 per tola. Similarly, the price of silver has remained unchanged and is being traded at Rs 1, 365 per tola today.

The Nepal Stock Exchange (NEPSE) gained 8.15 points to close at 2,173.25 points on Tuesday. Similarly, the sensitive index surged by 2.53 points to close at 415. 54 points. Meanwhile, a total of 8,300,187 unit shares of 248 companies were traded for Rs 3. 00 billion. Meanwhile, Sanima GIC Insurance Limited was the top gainer today, with its price surging by 10. 00 percent. Mailung Khola Jal Vidhyut Company Limited was the top loser as its price fell by 5.48 percent. At the end of the day, total market capitalization stood at Rs 3. 13 trillion.

Laxmi Intercontinental, the authorized distributor of Hyundai vehicles in Nepal, has launched the all-new Hyundai Venue in the Nepali market with a tagline- "New Style New Statement". The new Venue is among the first four-wheelers launched in the Nepali market after the government lifted import restrictions on automobiles in early December. "This brings lots of expectations and excitement in the Nepali auto sector and Hyundai Venue is sure to lead this journey," the company said in a press statement. The company said that after capturing the imagination of customers across Nepal with the earlier variants of Venue, it believes that the new and advanced All-New Hyundai Venue will set a new benchmark in the competitive compact SUV market. According to the statement, the new Venue has set new standards worldwide with its aesthetic design, features, performance and safety. The all-new Hyundai Venue is powered by a 1.2 L Petrol engine and 1.0 L Turbo engine that comes in 5-speed manual and 7-speed DCT respectively that carries a powerful punch. With a ground clearance of 195 mm, alloy wheels, puddle lamps & roof rail; the all-new Venue is perfectly suited for the city as well as adventurous drive. The redesigned parametric front chrome grille and The Shark Fin Antenna integrate well with the roof design and gives the all-new Venue a rich and sporty look that gives it a distinct edge over its competitors with its strong street presence. All-new Hyundai Venue comes equipped with an LED headlamp, an ergonomically designed driver seat, an 8’’ infotainment system, a cooled glove box, dual airbags, and a sunroof. The interior of the all-new Hyundai Venue feels luxurious and homely due to its spacious layout and two-tone Black Greige interiors. The compact SUV has alluring new features like a 60:40 split seat that expands the boot's space, a rear center armrest with a cup holder, two rear USB chargers, and a 2-step rear reclining seat that makes your driving experience more convenient and exhilarating. The all-new Venue also comes equipped with a rear parking assist camera, dual-zone climate control AC, a Tyre pressure monitoring system, electronic stability control, vehicle stability management, and hill assist control. The all-new Hyundai Venue comes in three variants E, S, and SX with the starting price set at Rs 3.996 million. The company said that Hyundai Venue is backed by excellent customer and after sales services. The company has a pan Nepal presence with 17 dealers and 19 Service Centres across the country for easy purchase as well as servicing of all Hyundai vehicles.