More than halfway through FY 2082/83 BS, provincial governments have spent only 14.16 percent of their combined Rs 287.7 billion budget, according to the Finance Ministry’s mid-term report. Recurrent spending reached 21.43 percent, while capital expenditure lagged at 9.33 percent, with no spending in financial management. Madhesh recorded the lowest capital spending, while Lumbini performed best. Bagmati showed relatively better progress, whereas Madhesh had the weakest overall expenditure.
The government has proposed major changes to Nepal’s corporate sector by making it mandatory for foreign direct investment (FDI)-based companies with investments of Rs 500 million or more...
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