KATHMANDU, September 18: The government was able to spend 5.46 percent of its earmarked budget of Rs 1.64 trillion in the first two months of the current fiscal year.
Of the total amount spent, the government exhausted Rs 58.59 billion in recurrent expenditure. Similarly, Rs 2.60 billion was utilized in capital expenditure, which makes out 0.6 percent of the funds allocated under the heading.
Nepal faces ‘budget holiday’ from Wednesday midnight
The government has downsized the budget amount to Rs 1.63 trillion from Rs 1.64 trillion announced by the KP Oli-led government. However, the proposed budget has been put on hold after the government was unable to get the substitution bill endorsed through parliament.
The records with the Financial Comptroller General Office show that the government spent Rs 201.20 million under recurrent expenditure and Rs 6 million in capital expenditure in two days (Thursday and Friday) from the state treasury even after the government faced a financial shutdown on Wednesday.
The country has been in a ‘budget holiday’ from Wednesday mid-night with the government undergoing a logjam to spend money from the state coffers for being unable to get the ordinance budget endorsed by parliament within the deadline.
Meanwhile, the government collected 14.64 percent of the targeted revenue worth Rs 1.15 trillion during mid-July and mid September this year. Of the revenue collection, the government generated Rs 148.56 billion (88 percent) from taxes.
