Financial Comptroller General Office. (File photo)
KATHMANDU: The federal government has been able to spent only 41.62 percent of the capital budget with only 12 days left in the current fiscal year 2021/22.
According to daily receipts and payments status report from the Financial Comptroller General Office (FCGO), out of Rs. 378 billion of the entire capital allocated, only Rs. 157 billion has been spent as of yesterday, (Monday).
According to estimates, the government will need to spend around Rs. 18.39 billion every day to mobilize the Rs. 220 billion capital budget that is yet to be spent.
This is less than the amount spent in the same period of the previous fiscal year 2020/21, when around Rs. 165 billion – or 46.98 percent of the total allocated budget – was spent.
Apart from capital expenditure, the FCGO reported tax revenue of Rs 908 billion and non-tax revenue of Rs 71.6 billion for the period ending till Monday. A total of Rs 43.9 billion in taxes has been recorded in other receipts.
Meanwhile, just 50.93% of Rs 189 billion financing budget has been spent. The financing budget is utilized in repaying the government’s loan, principal and interest, and making investments.
After the festival season in October last year, Finance Minister Janardan Sharma announced a plan to spend 10 percent of the development budget each month.
However, the development ministries have mainly failed to raise their expenses in carrying out planned programs.