Thursday, 18 July, 2024

Fed spending only 41% of annual target in 8 months


By TRN Online, Kathmandu, Mar. 17: The federal government has spent only 41 per cent of its annual budget in the first eight months of the current fiscal year (FY).

According to the Financial Comptroller General Office (FCGO) data, the government has spent Rs. 680.5 billion in aggregate in eight months of this FY which is slightly up from Rs. 576.2 billion that was spent in the same period of the previous FY.

The aggregate spending nudged up specifically due to the rise in recurrent and financial spending. In comparison to the previous FY, the recurrent spending is up by 18 per cent.

The FCGO data revealed that recurrent spending is up by 18 per cent to Rs. 541.2 billion in the current FY, from Rs. 458.9 billion spent in the last FY. Meanwhile, financial spending sprung up by 68 per cent to Rs. 59.7 billion from Rs. 35.5 billion spent in the last FY.

However, capital spending has been lagging in the current FY. The data showed that the amount of capital spending fell short by 27 per cent in comparison to the amount spent in the last FY. In the current FY, the government spent Rs. 79.5 billion for capital creation whereas Rs. 81.7 billion was in the same period in the last FY.