Govt spends around 80 percent of annual budget in 2022/23

KATHMANDU: The federal government has spent around 80 percent of the planned annual budget in the fiscal year 2079/80 BS (2022/23 AD).

It may be noted that the government had come up with an annual budget of Rs 1783 billion 736.3 million for the last fiscal year.

With the fiscal year coming to an end, public spending has accounted for 79.69 percent or Rs 1429 billion 564 million, according to the Financial Comptroller General Office.

The public spending in the last fiscal year includes 85 percent in the recurrent budget, 61 percent in the capitalized budget and 82.58 percent in financial management.

Out of the allocated budget of around Rs 1183 billion under the recurrent budget heading, Rs 1005 billion 760 million was spent.

Likewise, in capitalized budget heading, Rs 233 billion 696 million was spent out of the allocated budget of Rs 380 billion 384.5 million.

The FCGO data revealed that Rs 190 billion 108.7 million was spent out of Rs 230 billion 217.7 million appropriated for financial management.

In the last fiscal year, revenue collection appeared less than the government’s planned budget expenses.

The government could only collect 71 percent revenue out of its target. Budget deficit amounting to Rs 397 billion 872 million was appeared in the last year.