7 pc development budget lapses in Bhojpur
BHOJPUR: A total of Rs 160 million of the development budget allocated for Bhojpur district in the last year lapsed.
As many of the works were not completed on time, local government agencies had to return seven per cent of the total budget allocated last year, District Treasury Controller Office (DTCO) of Bhojpur informed.
Out of the Rs 2.34 billion allocated, only Rs 2.18 billion (93 per cent) was spent, District Treasury Controller Ishwori Prasad Devkota said.
In the fiscal year 2013/14, 85 per cent of the recurrent budget and 95 per cent of the capital budget was spent while in the fiscal year 2014/15, 95 per cent of the recurrent budget and 82 per cent of the capital budget was spent, the Office stated.
The agencies could not spend the budget on time because of delay in receiving the authority to release the budget and initiate tender process for big projects, as well as unequal budget supply to rural areas and the massive earthquakes this year, the Office added.