By TRN Online, Kathmandu, Dec. 21: The aggregate amount of the Federal Government Expenditure in the current fiscal year (FY) surpassed that of the previous FY record.

According to the Financial Comptroller General Office (FCGO) data, the total expenditure in the first four months crossed Rs. 400.9 billion, about 59 billion more than the expenditure in the past FY when it the expenditure was Rs. 341.4 billion.

The aggregate amount of the government expenditure surpassing the previous year's record is driven significantly by the hike in the recurrent and financial expenditure.

The data showed that current FY recurrent expenditure surpassed the previous FY by 15 per cent. According to the FCGO data, recurrent expenditure in the current FY remained Rs. 329.7 billion up from Rs. 286.5 billion incurred in the previous FY.

Financial expenditure specifically rose significantly in these first four months. Data showed a 135 percent hike in the financial expenditure in comparison to the same period of the previous FY.

The FCGO data revealed that financial expenditure in the first four months of the current FY remained Rs. 41.6 billion up by Rs. 17.7 billion that was incurred in the same period of the previous FY.

Ministry of Finance (MOF) has directed the government agencies to spend at least 10 per cent capital expenditure in the first quarter and increase it at a rate of 10 per cent per month. However, the record showed that target is challenging to meet. In the first four months of the current FY, the expenditure remained Rs. 29.4 billion which is lower than the previous FY record of Rs. 37.1 billion.