79.69 pc public spending in FY 2022/23: FCGO

KATHMANDU: The federal government spent around 80% of the planned annual budget in the fiscal year 2022/23. It may be noted that the government had come up with an annual budget of Rs 1.78 trillion for the last fiscal year. With the fiscal year coming to an end, public spending has accounted for 79.69% or Rs 1,429 billion 564 million, according to the Financial Comptroller General Office (FCGO). The public spending in the last fiscal year includes 85% in the recurrent budget, 61% in the capitalised budget and 82.58% in financial management. Out of allocated budget of around Rs 1.18 trillion under recurrent budget heading, Rs 1,005 billion 760 million was spent. Likewise, in capitalised budget heading, Rs 233 billion 696 million was spent out of 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 previous fiscal year, revenue collection appeared less than the government's planned budget expenses. The government could only collect 71% revenue out of its target. The data showed budget deficit amounting to Rs 397 billion 872 million in the FY 2022/23. READ ALSO:

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