Government Budget Spending Reaches 78% of Target in Fiscal Year 2082/083

Kathmandu. The government's total budget expenditure has been limited to 78 percent of the target in the current fiscal year 2082/083. As of Wednesday, June 24, the day before the budget spending deadline, the government was able to spend only 15 kharba 31 billion 97 crore 15 lakh rupees out of the total allocated budget.

The total budget of 19 kharba 64 billion 11 crore rupees was announced by the then Finance Minister Bishnu Prasad Paudel for the current fiscal year. Although Finance Ministers Bishnu Prasad Paudel, Rameshwar Khanal, and the current Finance Minister Dr. Swarnim Wagle had the opportunity to implement this fiscal year's budget, capital expenditure did not see much improvement. Capital expenditure, which is linked to development work, was only 40 percent this year. The direct meaning of capital expenditure not being incurred can be understood as the pace of development in the country being slow. According to the Office of the Controller General of Accounts, out of the allocated 4 kharba 7 billion 88 crore 80 lakh rupees for capital expenditure, only 1 kharba 63 billion 17 crore 34 lakh rupees have been spent as of Wednesday, June 24.

Compared to development expenditure, current expenditure in areas like employee salaries and allowances has been higher, which is generally the case. The Controller General's Office stated that out of the total allocated budget of 11 kharba 80 billion 98 crore rupees for current expenditure, 10 kharba 30 billion 42 crore 84 lakh rupees have been spent. This expenditure is 87.25 percent of the allocated budget.

Similarly, the government's performance in financial management, which is the process of raising funds to cover the budget deficit or repay government debt, has been 90.17 percent. This includes taking domestic and external loans. The government had estimated 3 kharba 75 billion 24 crore 20 lakh rupees for financial management, and by Wednesday, it has managed to arrange 3 kharba 38 billion 36 crore 97 lakh rupees.