KATHMANDU, May 15: With just two months remaining of the current Fiscal Year (FY), the government's capital expenditure has reached a meagre 34 percent.
Of the allocated budget of Rs 352.35 billion under federal government agencies, only Rs 120.37 billion has been spent by the end of Baisakh (mid-May). This represents 34.16 percent of the total allocated budget.
In the past year, around 37 percent of the capital budget was utilized over a period of 10 months. The government has spent a total of Rs 773.22 billion on recurrent expenditure, and Rs 264.29 billion has been spent on financial management, according to the Financial Comptroller General Office (FCGO).
Diversifying Government Revenue
The expenditures on current and financial management have been 67.79 percent and 71.96 percent, respectively.
During this period, the government's revenue has amounted to Rs 922.43 billion. Of this, Rs 828.94 billion has been collected from tax revenue and Rs 93.49 billion from non-tax revenue. The total revenue collected so far is 64.99 percent of the targeted revenue. The budget target for revenue collection this year is Rs 1419.3 billion.
During this period, the government has received grants totaling Rs 12.693 billion and other payments amounting to Rs 11.209 billion.
However, the government has reduced the budget target by 9.01 percent through a mid-term review. According to this, the revised estimate for expenditure is Rs 1692.7 billion. Of this, it is estimated that Rs 1029.2 billion will be spent on current expenditure, Rs 299.5 billion on capital expenditure, and Rs 363.93 billion on financial management.
