$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230711024009_1683767264.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230711024009_1683767264.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230711024009_1683767264.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230711024009_1683767264.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2023-07-11 14:39:31'
$dateFromDatabase = (int) 1689065671
$newDate = 'Jul 11, 2023'
$articleView = array(
'article_id' => '18429',
'hit' => '681'
)
$word_count = (int) 790
$time_to_read = (float) 3.95
$time_to_read_min = (float) 3
$time_to_read_second = (float) 57
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.
However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists.
Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system.
The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.
According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion.
Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion.
Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.
Expenses stand at about 1400 billion
In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate.
Budget deficit highest ever
The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.
Payment halted
The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '18429',
'article_category_id' => '1',
'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year',
'sub_title' => '',
'summary' => 'July 11: The government’s expenditure system is still full of flaws.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p>
<p> </p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2023-07-11',
'modified' => '2023-07-11',
'keywords' => '',
'description' => '',
'sortorder' => '18159',
'image' => '20230711024009_1683767264.jpg',
'article_date' => '2023-07-11 14:39:31',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '18429',
'hit' => '681'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117