Government Expenditure Reaches 80% of Planned Budget in Last Fiscal Year

In the fiscal year 2079/80 BS (2022/23 AD), the federal government has allocated and spent a significant portion of its annual budget, reaching approximately 80 percent of the planned expenditure. The government had initially set an annual budget of Rs 1783 billion 736.3 million for the last fiscal year. However, as the fiscal year drew to a close, the Financial Comptroller General Office reported that public spending accounted for 79.69 percent or Rs 1429 billion 564 million.

The distribution of public spending in the last fiscal year can be categorized as follows: 85 percent in the recurrent budget, 61 percent in the capitalized budget, and 82.58 percent in financial management.

Under the recurrent budget heading, out of the allocated budget of approximately Rs 1183 billion, a total of Rs 1005 billion 760 million was expended. Similarly, in the capitalized budget heading, Rs 233 billion 696 million was spent from the allocated budget of Rs 380 billion 384.5 million.

Furthermore, the Financial Comptroller General Office data reveals that Rs 190 billion 108.7 million was spent out of the Rs 230 billion 217.7 million appropriated for financial management.

However, it is noteworthy that revenue collection during the last fiscal year fell short of the government’s planned budget expenses. The government was able to collect only 71 percent of its revenue target. As a result, a budget deficit amounting to Rs 397 billion 872 million emerged in the last year.

These figures indicate the challenges faced by the government in achieving its revenue goals and balancing expenditures. The government will need to carefully assess and strategize its financial management for the upcoming fiscal year to address the budget deficit effectively.

Overall, the significant public spending in the last fiscal year highlights the government’s commitment to implementing its planned budget and investing in various sectors to drive economic growth and development.