Government spends 36% of its development budget in 10 months but appears to be on track to meet revenue targets

development budget

According to recent government data, ten months of the current fiscal year have passed, but the government has only spent about 36% of the annual development budget.

If the government wants to meet the target, it must spend 64% of its annual budget in the next two months, which is highly unlikely.

Various waves of the Covid-19 pandemic appear to have impacted the government’s spending capacity.

According to the Financial Comptroller General Office, the government spent Rs 125.77 billion on development projects in the last ten months, accounting for 35.64 percent of the budgeted amount for the year (Rs 352.91 billion).

In terms of overall spending, the government is doing slightly better, having spent 55.93% of the total estimated expenditure, or Rs 824.79 billion, out of the allocated Rs 1.474 trillion.

Nonetheless, the data show that the government is likely to meet its revenue target. The government has collected Rs 761.01 billion, or 75.22% of its annual target of Rs 1.011 trillion. The remaining 25% is expected to be collected within the next two months by the government.