ADVERTISEMENT
ECONOMY, Latest Updates

Only 32% capital budget spent in Province 1

BIRATNAGAR, March 18: The Province 1 government has managed to spend only about 32% of development budget over the f...

By Binod Subedi

BIRATNAGAR, March 18: The Province 1 government has managed to spend only about 32% of development budget over the first eight months of the current fiscal year 2019/20.


According to Treasury Controller Office, Province 1, the province has spent only 31.64% of the capital budget of Rs 23.4 billion as of mid-February. 


Antim Kumar Acharya, information officer at Treasury Controller Office, Province 1, told Republica that the province has made capital spending of Rs 7.45 billion over the first eight months of the current fiscal year.


Related story

Stunning Singjema Lake in Taplejung developing into tourism des...


According to Acharya, Ministry of Land Management, Agriculture and Cooperative has made the highest capital spending in the province as it has spent 48.83% of the capital budget allocated to it in the current fiscal year. Of the allocated Rs 180 million, the ministry has already spent Rs 88.8 million. Ministry of Economic Affairs and Planning has spent 42.7% of the development budget, or Rs 140 million of the allocated Rs 336.6 million.


Likewise, Ministry of Internal Affairs and Law has managed to spend only Rs 160.7 million out of the allocated Rs 1.14 billion budget. This is mere 14.66% progress in spending. Similarly, Ministry of Industry, Tourism, Forests and Environment has managed to achieve 6.29% progress in development spending. Out of the allocated Rs 2.17 billion, the ministry has managed to spend only Rs 130.67 million. 


Ministry of Physical Infrastructure and Transport, meanwhile, has achieved 36.9% spending progress. Of the allocated development budget of Rs 18.84 billion, the ministry has spent Rs 6.95 billon.


According to the Treasury Controller Office, Minister of Social Development has achieved 10.1% spending progress. Similarly, Office of Chief Minister and Council of Minister, Office of Attorney General, Provincial Planning Commission and Provincial Assembly have achieved 6.81%, 83.23%, 7% and 32.3% spending progress, respectively.


Similarly, the provincial government has managed to spend only 23.23% of the recurrent budget till the eighth month of the current fiscal year. Of the allocated Rs 18.62 billion, only Rs 4.32 billion has been spent so far. 


In recurrent expenditure, Ministry of Industry, Tourism, Forest and Environment has achieved the highest progress by spending 34.58% of the allocated budget. Similarly, Office of Chief Minister and Council of Ministers, Ministry of Economic Affairs and Planning and Ministry of Internal Affair and Law have achieved 26.68%, 22.24% and 20.46% spending progress, respectively. 


The provincial government has managed to spend Rs 11.78 billion out of the allocated Rs 42.20 billion at the end of the eighth month of the current fiscal year.

Related Stories
ECONOMY

Public transport sector suffers damage worth 730 million in recent disasters

1 min read
ECONOMY

NRB saves Rs 1.5 billion in printing as it promoted use of clean notes this Das...

3 min read
ECONOMY

India hands over components for prefabricated steel bridges

1 min read
ECONOMY

World Bank providing Nepal with US $150 million to fight back natural and clima...

3 min read
ECONOMY

NRB tightens the noose against BFIs issuance of loans against shares and bullio...

3 min read