In the fiscal year 2082/83, the government managed to spend only 80.55 percent of the total allocated budget. Capital expenditure was limited to 46.79 percent of the target, leaving most strategic and large-scale projects confined to announcements on paper. Ambitious plans such as the fertilizer factory, Nijgadh Airport, and squatter management failed to make substantial progress.
As of 1st Shrawan in Kathmandu, by the last day of fiscal year 2082/83 (32nd Asar), all indicators of public expenditure were disappointing. The government could not even spend half of the total development budget this year. According to data from the Office of the Auditor General until 32nd Asar, capital expenditure was restricted to 46.79 percent. The government had targeted NPR 4 trillion 7 billion 88 crore in capital expenditure, but by the fiscal year-end, only NPR 1 trillion 908 billion 4 crore had been spent on development.
The government presented a total budget of NPR 19 trillion 641 billion 11 crore for this fiscal year. However, actual spending reached only 80.55 percent of this target, amounting to NPR 15 trillion 821 billion 16 crore by 32nd Shrawan. Recurrent expenditure amounted to NPR 10 trillion 439 billion 9 crore, which was 88.4 percent of the target, set at NPR 11 trillion 809 billion 8 crore.
The previous fiscal year’s budget was implemented under the leadership of three finance ministers. The budget was initially presented by then Finance Minister Bishnu Prasad Paudel. Following protests on the 23rd and 24th of Bhadra, economist Rameshwar Khanal took charge of the Finance Ministry. After the elections on 21st Falgun, Dr. Swarnim Wagley was appointed finance minister in the powerful government formed subsequently. Despite the budget being implemented by two expert finance ministers, the government failed to even show signs of initial improvements. However, Finance Minister Wagley has pledged that the poor state of development expenditure will not continue in the current fiscal year.
In terms of financial management, expenditure reached 92.56 percent of the target. Out of a target of NPR 3 trillion 752 billion 4 crore, NPR 3 trillion 473 billion 3 crore was spent. Through a mid-term budget review, the government aimed to reach a total expenditure of 85.96 percent, hoping to increase recurrent spending to NPR 11 trillion 259 billion 7 crore and capital spending to NPR 2 trillion 433 billion.
Financial management expenditure exceeded the set target, with NPR 3 trillion 190 billion spent. The total budget expenditure was expected to reach NPR 16 trillion 883 billion 2 crore according to the mid-term review.
