First Business News Portal in English from Nepal
KATHMANDU: The government has vowed to speed up capital expenditure to utilize the funds allocated for the development projects this year.
Speaking at a press meet organized by the Ministry of Finance (MoF) on Sunday, Finance Minister Janardan Sharma said the government plans to spend at least 10 percent of the allocated development budget every month. “Seeing the possibilities of spending the budget of the development projects, we have increased the funds under the capital expenditure this year,” Sharma said.
Through the substitution bill, the government has raised the size of the capital expenditure by Rs 3.84 billion to Rs 378.10 billion.
At a time when successive governments have been struggling every year to spend adequate amounts on development projects and almost two months have passed to implement the budget this year, the government announcement seems to be more ambitious. In 2020/21, the government utilized only 64.69 percent of the funds allocated for capital expenditure.
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