Spending 62% of the budget in 11 months, govt now needs to use Rs 12 billion/day

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, June 15

Monday marked the last day of the month of Jeth, the 11th month of the current fiscal year. However, up to this day, the government has spent only 62.17 per cent of the revised amount it was supposed to spend the year as per the annual budget plan.

According to Financial Comptroller General Office, the government spent Rs 916.85 billion, which is just 62.17 per cent of Rs 1 trillion and 266.26 billion, the target set after the second revision of the annual budget plan which originally had set the spending target at Rs 1 trillion and 476.64 billion.

It means the government has more than Rs 350 billion to spend in the next 30 days. If it is able, it can spend as much as Rs 12 billion a day.

According to the office, the government has only spent 40.54 per cent of the allocated capital expenditure and 73.83 per cent of the allocated current expenditure in the past 11 months.

Officials claim the underspending is the result of the Covid-19 pandemic and resultant restrictions.

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Puri is a business correspondent at Onlinekhabar.

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