Nepal's Finance Ministry Discloses Mid-Year Performance, Highlighting Budget Spending and Revenue Collection Gaps
Summary
Nepal's Ministry of Finance disclosed mid-year performance indicating 46.06% budget spending and a revenue shortfall of Rs 1.29 kharba compared to targets for fiscal year 2080/81.
Key Points
- Nepal's Ministry of Finance spent 46.06% of the annual budget by the end of Poush, up 10.75% from last year.
- Only Rs 5.81 kharba revenue was collected by mid-year, Rs 1.29 kharba less than the target.
- Significant funds were allocated for the House of Representatives and National Assembly elections.
- Several fiscal reforms and regulatory amendments were introduced including financial sector strategies and tax management improvements.
