Nepal Finance Ministry cuts capital spending estimate by about 21 percent

The Ministry of Finance has revised down its capital expenditure projection for the current fiscal year by around 21 percent. While the annual budget had allocated Rs 407 billion for capital spending, the mid-year review estimates that only Rs 319 billion will be utilized. Overall budget expenditure is also expected to undershoot initial targets. Current expenditure, originally set at Rs 1.180 trillion, is now projected to reach Rs 1.225 trillion. Meanwhile, spending under financial management has been revised downward to Rs 318 billion from the initially allocated Rs 375 billion.