Government's expenditure amounts to Rs 909bn in 9 months

KATHMANDU: The total expenditure of the government amounted to Rs 909.39 billion during the first nine months of the fiscal year 2023/24, as reported by the Ministry of Finance, Financial Comptroller General Office (FCGO), in the macroeconomic and financial situation report released by the Nepal Rastra Bank (NRB) on Sunday.

In contrast to the growth of 18.7% in the previous fiscal year, government expenditure decreased by 3.6% in the review period. The recurrent expenditure, capital expenditure, and financial expenditure totalled Rs 644.03 billion, Rs 97.38 billion, and Rs 167.99 billion respectively during the review period.

During the review period, the total revenue mobilisation of the Nepal Government (including the amount to be transferred to provincial and local governments) stood at Rs 748.04 billion. Revenue mobilisation recorded a growth of 9.4% in the review period, in contrast to a decrease of 13.4% in the same period of the last fiscal year. The tax revenue amounted to Rs 671.12 billion and non-tax revenue Rs 76.93 billion in the review period.

Cash Balance of Government

The cash balance at various accounts of the Government of Nepal, maintained with the NRB, remained at Rs 313.72 billion (including Provincial Governments and Local Government Account) in mid-April 2024. This balance was Rs 65.36 billion in mid-July 2023.

Provincial Government Expenditure and Revenue

In the review period, the total expenditure of provincial governments was recorded at Rs 78.13 billion and resource mobilisation at Rs 132.28 billion respectively. The total resource mobilisation of provincial governments includes the grants and revenue transferred from the Nepal Government amounting to Rs 98.29 billion, and revenue and other receipts of the provincial governments amounting to Rs 33.99 billion in the review period.