First Business News Portal in English from Nepal
KATHMANDU: The government has been able to spend merely 22.58 percent of the allocated development budget for 2020-21 fiscal year.
As per the statistics maintained by the Financial Comptroler General Office (FCGO), development budget expenditure (capital expenditure) stands at 79.6 billion till mid-March of Rs 392 billion development budget allocated for the year.
Though the government, especially the Ministry of Finance (MoF) has said that different legal provisions are in place to accelerate budget expenditure, expenditure is sluggish even this year as a huge chunk of capital budget is yet to be spent.
Low expenditure of the capital budget also means that development works across the country has also remained tepid this year.
Meanwhile, the government’s expenditure under recurrent and financing headings stands at 48.03 percent and 20.55 percent, respectively, of the total allocated budget under these headings for this year.
Read more: https://www.fiscalnepal.com/2021/01/17/3178/development-budget-expenditure-at-14-57-in-six-months/#ixzz6p4ZEWjW9
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
© Copyright 2020. FiscalNepal.com. Website Design and Developed by Genesis Web Technology