Govt spending hits Rs 100 billion

The total government spending in the ten months of the current fiscal year has reached Rs 100 billion.

The Finance Ministry had released Rs 108 billion for the purpose till mid-May – of which Rs 100 billion have been spent, according to Krishna Hari Baskota, joint secretary at the budget division of the Ministry.

Of the total spending Rs 64 billion were spent on recurrent expenditures while over Rs 24 billion were spent on capital expenditure – up by 54 percent compared to the same period previous fiscal year. Remaining amount were spent on payment of loans and interests.

During this year’s budget, the government had aimed to spend Rs 168.99 billion – Rs 98.17 billion in recurrent expenditure; Rs 55.26 billion in capital expenditure and Rs 15.56 billion for loans and interest payment.

As only two months remain before this fiscal year wraps up, the government might not be able to spend as per its initial budget target.

This year the government received a total of Rs 21.25 billion worth of foreign assistance – as against its budget estimate of receiving Rs 17.36 billion nepalnews.com sd May 19 08