Nepal utilizes one-third of capital expenditure by third quarter

KATHMANDU: As the current fiscal year enters its final stretch, the Financial Comptroller General Office (FCGO) reports that the country has expended just 32.24 percent of the total capital allocation until the end of the third quarter.

Out of the allocated Rs 302.7 billion, government expenditure has reached Rs 97.37 billion, covering the first nine months of the fiscal year, which concluded on April 12.

On the revenue front, the pace has been sluggish. Despite a target of Rs 1472.48 billion for the fiscal year, revenue collection stands at Rs 773.3 billion, amounting to only 52.5 percent of the total goal.

Of this collection, Rs 671.11 billion comes from tax revenue, while Rs 76.92 billion is from non-tax sources.

Moreover, foreign grants have amounted to a mere Rs 2.75 billion, constituting only 5.52 percent of the annual target of Rs 49.94 billion, gathered until the end of the ninth month of the fiscal year.

As the fiscal year progresses, close monitoring and strategic financial management will be imperative to meet both spending and revenue targets effectively.