Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Arrears of different government agencies increased by 15.46 percent to Rs 483 billionas of mid-July 2021 compared to the same period last year (2020).
On Wednesday, auditor-General Tanka Mani Sharma submitted the report of the annual audit for the fiscal year 2020/21 to President Bidya Devi Bhandari on Wednesday.
The auditor-general provides various recommendations for the government to reduce the arrears amount and maintain financial discipline, but they are rarely implemented.
The report submitted to President Bhandari states that arrears is increasing due to negligence in expenditure system and the lack of good governance. It pinpoints key issues on the governance, irregularities and performance of the state funded development projects.
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