The historically strong and stable government led by Prime Minister KP Sharma Oli has miserably failed to expedite the development budget as it is yet to spend more than half of the development budget – allocated for the current fiscal year – but there is less than half-a-month to end the fiscal year.
The government has spent only 48.89 per cent or Rs 154.38 billion, out of the total Rs 313.99 billion development budget for the fiscal year 2018-19, till today – June 20 – according to Financial Comptroller General Office (FCGO).
Though, the Finance Ministry had revised the capital budget for this fiscal year downwards to Rs 265.20 billion – some 15.5 per cent down from the previous allocated capital budget of Rs 313.99 billion – through the mid-term budgetary review due to its failure to boost capital formation programmes and tepid progress of development projects, the development budget spending stands at 71 per cent, of the revised allocation also. However, it could not be called legal as the figure is not approved by the Parliament. The development budget figure of Rs 313.99 billion is approved by the Parliament, and is legal, whereas the revised data is only for the reference of the Finance Ministry.
According to the FCGO, the government has been able to spend – including capital expenditure, financing and recurrent – some 64.12 per cent of the total budget of Rs 1.31 trillion for the current fiscal year 2018-19.
The government has spent Rs 619.29 billion as recurrent expenditure – of the total Rs 845.45 billion – till today, the FCGO data revealed. The recurrent expenditure is primarily the spending of the government on non-capital formation programmes like salaries of government staffers, social security and other expenses, though some of the development projects also get budget through recurrent budget.
Likewise, the government has spent some 44.74 per cent to Rs 69.66 billion – out of the total allocated budget of Rs 155.72 billion – on financing till today, according to the FCGO data. Financing is primarily the interest served for the domestic and foreign borrowings.
The government has spent only 48.89 per cent or Rs 154.38 billion, out of the total Rs 313.99 billion development budget for the fiscal year 2018-19, till today – June 20 – according to Financial Comptroller General Office (FCGO).
Though, the Finance Ministry had revised the capital budget for this fiscal year downwards to Rs 265.20 billion – some 15.5 per cent down from the previous allocated capital budget of Rs 313.99 billion – through the mid-term budgetary review due to its failure to boost capital formation programmes and tepid progress of development projects, the development budget spending stands at 71 per cent, of the revised allocation also. However, it could not be called legal as the figure is not approved by the Parliament. The development budget figure of Rs 313.99 billion is approved by the Parliament, and is legal, whereas the revised data is only for the reference of the Finance Ministry.
According to the FCGO, the government has been able to spend – including capital expenditure, financing and recurrent – some 64.12 per cent of the total budget of Rs 1.31 trillion for the current fiscal year 2018-19.
The government has spent Rs 619.29 billion as recurrent expenditure – of the total Rs 845.45 billion – till today, the FCGO data revealed. The recurrent expenditure is primarily the spending of the government on non-capital formation programmes like salaries of government staffers, social security and other expenses, though some of the development projects also get budget through recurrent budget.
Likewise, the government has spent some 44.74 per cent to Rs 69.66 billion – out of the total allocated budget of Rs 155.72 billion – on financing till today, according to the FCGO data. Financing is primarily the interest served for the domestic and foreign borrowings.
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