First Business News Portal in English from Nepal
KATHMANDU: The current government, which had announced that it would meet the 100 per cent target by spending 10 per cent capital every month, has managed to spend only 57.23 per cent by the end of the fiscal year.
According to preliminary data from the Financial Comptroller General Office (FCGO), in the last financial year 2078/79 till June 32, the capital expenditure stood at Rs 2 trillion 16 billion 37 billion 27 million. This year the government had set a capital expenditure target of Rs 378 billion 977 crore.
According to the data, the government has spent less capital budget by Rs 1 trillion 62 billion this year. Development and construction could not be given priority due to elections due to the compulsion of bringing budget replacement bill at the beginning of the financial year and the traditional problems of development expenditure could not be solved, hence the bad trend of capital expenditure continued. This year too.
According to the data, in the financial year 2076/77, the lowest development expenditure has been made for the last 6 years. Due to this the corona epidemic and economic activities came to a standstill. Because there was a lockdown in the country from March to June that year. The main time for capital expenditure in Nepal is the third quarter.
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