Capital expenditure up to 90 percent to Mobilize budget _ Finance Minister

Mar Thu 2022 02:39:41

250 views

Capital expenditure up to 90 percent to Mobilize budget _ Finance Minister

Kathmandu. Finance Minister Janardan Sharma has directed to increase the capital expenditure to 90 percent for the current fiscal year 2078-79. Speaking at a program organized at the Ministry of Finance to review the budgets of 10 ministries with high capital budget allocation till February 8, Finance Minister Sharma directed to implement the budget accordingly as the target is to spend 90 percent capital through mid-term review. "It simply came to our notice then. While the mid-term review of the budget had set a target of 90 per cent capital expenditure.

He also pledged that the Ministry of Finance would extend all possible assistance to increase the capital expenditure to 90 percent. The ministry, which has a large capital budget, said it had spent less and would not be able to make significant capital expenditures until the end of the year. Minister Sharma said that it was a matter of concern that the progress of the ministry with high capital expenditure was not satisfactory. ‘Ministries with low capital expenditure allocation have seen a very high percentage of progress but ministries with the responsibility of increasing capital expenditure have not been able to spend.

Speaking on the occasion, Finance Secretary Madhu Kumar Marasini said that he was disappointed with the trend of weak capital expenditure. "Implementation of the existing budget has not even reached 20 percent, but the situation of demanding additional budget is dire," he said. "Make extensive use of the existing budget." He suggested not to try to do more work.