Budget expenditures at 24.26 percent in five months

Budget expenditures of the government in the first five months of the current fiscal year (FY) 2022/23 has stood at 24.26 percent.

Out of over Rs 1,793 billion budget brought for the current FY, more than Rs 435 billion has been spent until mid-December, said the Financial Comptroller General Office. Similarly, for the current FY, under the capital expenditures, the government has allocated more than Rs 380 billion.

Capital expenditures have been around nine percent. Over Rs 33.9 billion was spent under the capital expenditures, it has been said. Likewise, out of over Rs 1,183 billion allocated under the current expenditures, more than Rs 354 billion has been spent, which is 29.94 percent. Of the over Rs 230 allocated towards financial management, over Rs 46.6 billion was spent as of mid-December.

This is 20.4 per cent of the budget allocated under the financial management. By the look of things, the government seems to spend more money for financial management than capital expenditure. During this period, the revenue collection has stood at 24.52 percent.

The government targeted to collect over Rs 140 billion in the ongoing fiscal year and receive Rs 550 billion as foreign grant within the current fiscal year. The internal revenue collection so far is over Rs 300 billion which is 23.3 per cent of the annual target. Likewise, during this period the government of Nepal has received 6.16 per cent of the target which is over Rs 300 billion.

(RSS)