Govt spends 22.58% of annual development budget in 8 months

The construction for Nepal's first road tunnel is underway. capital expenditure capital expenses capital budget development budget development expenditure development spending
File: The construction for Nepal’s first road tunnel is underway.

Kathmandu, March 14

The government has been able to spend only 22.58 per cent of the development budget allocated for the current fiscal year as two-thirds of the year has been over.

It has raised concerns that the government will have to speed up development projects in the last few months of the fiscal year only, thereby compromising the quality. Stakeholders also argue it shows development projects are not the government’s priority.

The government has allocated Rs 352.29 billion for the capital (development) expenditure for this year. However, it was able to spend Rs 79.69 billion only as of Friday, the last day of the eighth month of the fiscal year.

On average, the government has been investing only Rs 10 billion a month on development projects.

Meanwhile, the government spent 48.03 per cent of the allocated annual current expenditure in this period. Whereas the government had allocated Rs 948.94 billion for the current expenditure for the entire year, it spent Rs 571.02 billion in the first eight months.

Overall, the government achieved 38.72 per cent of the total expenses allocated for this fiscal year.

The Financial Comptroller General Office says the government has collected 56.46 per cent of the annual revenue target.

Whereas the government has set the annual target at Rs 1 trillion and 11.75 billion, Rs 571.2 billion has been collected as of Friday.

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