Nepal Government Revises Downward Fiscal Year Spending Projection in Half-Year Review
Summary
Nepal's government has revised its fiscal year spending projections downward by 14.04 percent, with capital expenditure cut by over 40 percent due to political, administrative, and election-related factors.
Key Points
- The government revised down budget spending projections by 14.04 percent in the half-yearly review for fiscal year 2082/83.
- Capital expenditure was drastically reduced by 40.35 percent from NPR 407.89 billion to NPR 243.30 billion, one of the largest cuts in Nepal's history.
- Reasons for cuts include halting small fragmented projects, contract terminations, political developments, and election focus.
- Despite cuts, the government took positive steps like enhancing budget discipline and reallocating funds to productive projects.
