KATHMANDU, April 14: Development expenditure has reduced to 29 percent by the third quarter of the current Fiscal Year 2024/25.
According to data from the Financial Comptroller General Office (FCGO), as of the end of Chaitra (April 13), the government’s capital expenditure stands at only Rs 102.90 billion. For the current FY, the government had allocated Rs 352.35 billion under the capital expenditure heading. Compared to the annual allocation, the current capital spending amounts to only 29.2 percent.
Not only development expenditure, but overall budget spending during this period has also remained weak. As of the end of Chaitra, only 53.67 percent of the annual allocated budget has been spent.
Diversifying Government Revenue
For the current FY, the government has introduced a budget of Rs 1.860 trillion, while only Rs 998.50 billion has been spent by the end of Chaitra.
Similarly, under the recurrent expenditure heading, Rs 1.140 trillion had been allocated. Out of this, Rs 678.06 billion, or 59.45 percent, has been spent, according to the FCGO.
Additionally, expenditure under the financial management heading stands at 59.23 percent. For the current FY, the government has allocated Rs 367.28 billion under this heading, which is around 45 percent of the total budget. Out of that, 59.23 percent has been spent so far.
Revenue collection during this period has also remained weak. Out of a total revenue target of Rs 1.419 trillion, only Rs 821.67 billion in revenue had been collected. This amounts to just 57.89 percent of the annual target.
Similarly, this year, the government had set a target of receiving Rs 52.32 billion in foreign grants. However, as of now, only Rs 14.26 billion, i.e. just 27.27 percent of the annual target has been received.