Around 80 percent public spending last fiscal year

KATHMANDU, JULY 17: The federal government has spent around 80 percent of the annual budget in the last fiscal year which ended yesterday. The total size of the budget was Rs 1783 billion 736.3 million for the last fiscal year.

The public spending accounted for 79.69 percent or Rs 1429 billion 564 million in 2022/23 AD, according to the Financial Comptroller General Office. The public spending in the last fiscal year includes 85 percent in the recurrent budget, 61 percent in the capitalized budget, and 82.58 percent in financial management.

Out of the allocated budget of around Rs 1183 billion under the recurrent budget heading, Rs 1005 billion 760 million was spent. Likewise, under the capitalized budget heading, Rs 233 billion 696 million was spent out of the allocated budget of Rs 380 billion 384.5 million. The FCGO data revealed that Rs 190 billion 108.7 million was spent out of Rs 230 billion 217.7 million appropriated for financial management

. In the last fiscal year, revenue collection appeared less than the government's planned budget expenses. The government could only collect 71 percent of revenue out of its target. A budget deficit amounting to Rs 397 billion 872 million appeared in the last year. ---