Year End Government Spending Skyrockets

Jul 11, 2019 04:17 PM Merolagani

As the country heads toward the ending of FY, the government spending has skyrocketed.

As per Office of Auditor General (OAG), the government spent whooping Rs 14.15 billion on a single day on July 10. On the day, the government spent Rs 5.12 billion in current expenditure while Rs 4.65 billion in development expenditure and Rs 4.38 billion in financial management.

As per the statistics of June 16, the government was spending Rs 1.20 billion in current expenditure, Rs 885.7 million in capital expenditure and Rs 500 million in financial management.

As the end of FY is nearing, the government is spending Rs 4 billion daily in all three headings. Such expenditure was Rs 3.25 billion daily after June 30.

As per OAG, the government needs to spend Rs 235.38 billion in current expenditure, Rs 161.34 billion in capital expenditure and Rs 81.08 billion in financial management to meet the expenditure target.

The government has targeted to spend Rs 845.44 billion in current, Rs 313.99 billion in capital and Rs 155 billion in financial expenditure.

In terms of percentage, the government spent 81.08 percent in current, 58.91 percent in capital and 42.79 percent in financial expenditure.

Similarly, the government has collected only 75.95 percent of revenue in compared to its targeted revenue of Rs 831.31 billion. In order to meet the targeted revenue, the government required to collect Rs 199.64 billion revenue in next 5 days.


comments powered by Disqus

Finance Standing of Non-life insurance in Q2

Feb 19, 2020 03:08 PM

Out of 20 general insurance companies operating in Nepal, 15 are listed companies. Those listed companies earned a net insurance premium of Rs 5.60 billion and net profit of Rs 1.58 billion by the second quarter of the last FY.