By Our Reporter
Nepal’s performance in development activities has been very poor. It is evident from the fact that in the first six months of the current fiscal year, only 15.81 per cent of the capital budget was utilized. According to the statistics of the Financial Comptroller General Office, the utilization of the capital budget is just 15.81 per cent of the total allocation of 380.30 billion.
Likewise, the utility of the recurrent budget is 41.81 per cent and of financing 29.7 per cent. In six months, the government collected Rs. 511. 85 billion in revenue but the expenditure stood at Rs. 620 billion.
Deputy Prime Minister and Finance Minister Bishnu Paudel has also admitted the poor capital expenditure. Speaking at a programme in Kavre on Tuesday he said that only 15 per cent of the capital budget of the current fiscal year has been spent.
When expenditure exceeded the revenue and the economic indicators are negative, the government decided to cut off recurrent expenses as part of its austerity measures. It came up with a plan to reduce regular spending.
the ministry has decided to slash 20 per cent of budget spending incurred in different headings of the approved budget of all ministries/agencies of the federal government, including fuel, maintenance, stationery and office assistance, newspapers, printing and publication of information, service and consultancy.
Likewise, the budget approved for information system and software operation, travel and other allowances, programme cost, monitoring and evaluation cost, staff training, workshop and seminar, sundry expenses, machinery and equipment, furniture and fixtures and structural improvement of the buildings would also be reduced by 20 per cent.
Login to add a comment