According to the Ministry of Finance, out of a total budget allocation of Rs 1964.11 billion for the current fiscal year, Rs 690.21 billion has been spent by mid-December.
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The Ministry of Finance has today released the 'Half-Year Evaluation Report of the Budget for the Fiscal Year 2082/83'.
According to the report, only about one-third of the total budget allocated for the current fiscal year has been spent, while capital expenditure has not been satisfactory.
According to the Ministry of Finance, out of the total budget of 1964.11 billion rupees allocated for the current fiscal year, 690.21 billion rupees have been spent by mid-December. This is 35.14 percent of the total budget. Looking at the structure of expenditure, 41.25 percent of the allocated amount was spent on current expenditure (including financial transfers), 12.12 percent on capital expenditure, and 40.95 percent on financial management, the ministry said.
The report states that the overall expenditure for the review period increased by 3.39 percent compared to the same period of the previous fiscal year. However, the reasons for the low capital expenditure are the lack of project preparation, complications in land acquisition and use of forest areas, as well as damage to physical infrastructure due to the protests on Bhadra 23 and 24.
According to the semi-annual review report of the budget, Rs 19.5365 billion allocated for unprepared and unproductive small projects has been postponed as per the decision of the Council of Ministers. Of the postponed projects, Rs 42.2834 billion has been released based on the request for release from the subject ministry with justification for the procurement process, the ministry has stated.
A total of Rs 1.488 billion has been targeted for revenue mobilization in the current fiscal year. Of which, the federal government's share is estimated to be Rs 1.315 billion. The report also makes public the goals and policies for budget implementation and resource management reform. The main goal is to strengthen revenue mobilization in the remaining period by resolving the structural and systemic problems seen during the review period and focus investment on profitable areas.
A policy has been adopted to effectively implement the 2078 BS standards to make public expenditure economical and to spend only within the allocated limits. According to the ministry, to increase budget spending, an organizational and management survey will be conducted at the federal, provincial, and local levels according to their work responsibilities and a review of the existing structure and positions will be conducted.
