Banking News – Chitwan District spent 58.41% of its allocated capital budget for development projects during the fiscal year, according to the District Treasury and Controller Office.

Out of the NPR 10.21 billion allocated for development, the district utilized approximately NPR 5.96 billion.

Chief of the District Treasury and Controller Office, Bhimarjun Gyawali, said the delay in completing contracted projects within the stipulated timeframe was the primary reason for the relatively low capital expenditure. He noted that contractors often secure projects by bidding at significantly lower prices, which is followed by delays in construction work.

On the recurrent expenditure side, the district spent NPR 13.50 billion out of the NPR 14.18 billion allocated.

Officials explained that recurrent expenditure appears comparatively higher because grants transferred to local governments are recorded under the recurrent budget category.