Despite
timely budget for the current fiscal year 2013-14, the government has not been
able to expedite capital expenditure.
As of January
1, the government has been able to spend only Rs 9 billion on development works
– that is capital expenditure – that could have propelled economic growth apart
from creating employment.
The budget
for the current fiscal year 2013-14 has allocated Rs 85.10 under capital expenditure
to achieve 5.5 per cent economic growth target.
By the half
of the fiscal year, the government has been able to spend only around 10 per
cent of the capital expenditure means the remaining half of the fiscal could
not consume the total budget allocated for development works.
The slow
performance of the capital expenditure will hit the economic growth target of
5.5 per cent, though timely monsoon might give little hope to the economic
growth.
The Rs 517.14-billion
full-fledged budget for the current fiscal year, has allocated Rs 353.42
billion for recurrent expenditures – for the regular administrative costs, salary
and perks – and Rs 78.72 billion for financial management.
The
government has spent Rs 111 billion under the recurrent expenditures, and Rs 13
billion under financial management making the total spending to Rs 133 billion
by January 1.
The recurrent expenditure
has been spent almost one third as usual but it will not help fuel economic
growth as only capital spending can help fuel growth.
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