Government announces schedule for planned internal debt

Kathmandu March 2- As revenue collection has fallen below the target this year due to supply disturbance, the government has made public a timetable for raising the planned internal debt. As per the budgetary provision of the current fiscal year, the government will raise Rs88 billion in internal loans.

The planned internal loan was not raised fully in the past two years due to government’s failure to spend available resources from revenue and foreign grant and loans. The Nepal Rastra Bank (NRB), which raises internal loans on behalf of the government, has also “issue and auction calendar” for all the planned borrowing this year.

Krishna Devkota, joint secretary at the Finance Ministry, said the government was considering to make all planned borrowings because of the missed revenue target and expected growth in expenditure once reconstruction activities gain momentum.