+

Govt spends 36% of development budget in 10 months but appears close to revenue target

File: Road construction is underway in Rasuwa.

Kathmandu, May 16

Ten months of the current fiscal year have been over, but the government has been able to spend only around 36 per cent of the annual development budget, according to the recent government data.

It means the government has to spend 64 per cent of the annual budget in the next two months if it wants to meet the target, but it is very unlikely.

Apparently, different waves of the Covid-19 pandemic have affected the government’s spending capacity.

The Financial Comptroller General Office says the government spent Rs 125.77 billion on development projects in the past 10 months, which is 35.64 per cent of the allocation announced for the year (Rs 352.91 billion).

In terms of overall spending, the government’s position, however, is a bit better as it has spent 55.93 per cent of the total estimated expenditure, Rs 824.79 billion out of allocated Rs 1.474 trillion.

The data show the government is likely to meet its revenue target nonetheless. The government has collected Rs 761.01 billion, which is 75.22 per cent of the annual target of Rs 1.011 trillion. The government plans to collect the remaining 25 per cent in the next two months.

React to this post

Conversation

New Old Popular

Subscribe to our newsletter

Subscribe to Onlinekhabar English to get notified of exclusive news stories.