•      Mon May 20 2024

Country spends one-third of capital expenditure in nine months

Ministry of Finance Nepal (file)

Kathmandu, April 13: The capital spending in the country till the third quarter of the current fiscal year is just 32.24 percent of the total allocation, the Financial Comptroller General Office (FCGO) said.

Of the total Rs 302.7 billion allocated, the government expenditure has reached Rs 97.37 billion till the first nine months of the current fiscal year that ended on April 12.

Likewise, the state of revenue collection in the country is sluggish. The government has targeted to collect Rs 1472.48 billion in revenue in the current fiscal year but the revenue collection so far is Rs 773.3 billion, which is 52.5 per cent of the total target.

The government has collected Rs 671.11 billion under the tax revenue and Rs 76.92 billion in non-taxes.

Likewise, the government has received Rs 2.75 billion foreign grants till the first nine months of the current fiscal year, which is just 5.52 per cent of the annual target of Rs 49.94 billion. #nepal