Only 78 per cent budget spent in last fiscal year

Kathmandu: Although the government had unveiled the budget in time, it spent only 78 per cent of the total budget in the last fiscal year 2016/17.

The government spent only Rs. 822.66 billion out of the Rs. 1,048.92 billion, according to the Financial Comptroller General Office.

Out of the total expenditure, capital expenditure reached around 65 per cent (Rs. 204.10 billion), recurrent expenditure 84 per cent (Rs. 515.72 billion) and financial management 86 per cent (Rs. 102.83 billion) during fiscal year 2016/17.

However, revenue collection grew to 108.11 per cent of the target last fiscal year.

The government collected Rs. 611.76 billion revenue during the last fiscal year while the target was Rs. 565.89 billion.

Out of the total revenue collection, the government collected Rs. 555.90 billion in taxes and Rs. 55.86 billion under the nontax category last fiscal year.

The government invested Rs. 18.19 billion in shares and Rs. 23.37 billion in loans during the last fiscal year.

The government received foreign loans of Rs. 52.05 billion against the annual target of Rs. 195 billion last fiscal year. Likewise, the government has paid Rs. 25.97 billion in interests and principles of the foreign loans.

Under the heading of the domestic loans, the government collected Rs. 88.33 billion against the annual target of Rs. 111 billion. Meanwhile, the government paid Rs. 50.19 billion as interest and principle of domestic loans.