Govt. spending increases by 10.1 percent

The Ministry of Finance (MoF) has stated that the total government spending for the first five months of the current fiscal year increased by 10.1 percent as compared to the same period last year.

According to the MoF, the government expenditure for the period stood at Rs 28.34 billion. Of the total spending, Rs 22.72 billion was recurrent expenditure, Rs 2.93 billion was capital expenditure and Rs 2.67 billion was principal and interest repayment expenditure.

The MoF further said that the government mobilized Rs 23.65 billion in revenue during the period. This amount is higher by 9.8 percent than mobilized during the same period of 2004/05, says the release.

Of the total revenue, tax revenue was Rs 20.20 billion and Non Tax revenue Rs 3.45 billion in the total revenue collection. nepalnews.com pb Dec 22 05