Article 119: Estimates of revenues and expenditures

1) The Minister for Finance of the Government of Nepal shall, in respect of every financial year, lay before the joint sitting of both Houses of the Federal Parliament an annual estimate setting out, inter alia, the following matters:

(a) An estimate of revenues,

(b) The money required to meet the charges on the Federal Consolidated Fund, and

(c) The money required to meet the expenditure is to be provided for by a Federal Appropriation Act.

2) The annual estimate to be laid pursuant to clause (1) shall also be accompanied by a statement of the expenses allocated to every Ministry in the previous financial year and particulars of whether the objectives of the expenses have been achieved.

3) The Minister for Finance of the Government of Nepal shall lay before the Federal Parliament an estimate of revenues and expenditures under clause (1) on the 15th day of Jesta (mid-May) each year.