Government meets 88.41 percent target in revenue collection


July 15, 2022


Government meets 88.41 percent target in revenue collection

KATHMANDU: The government had a target of collecting revenue of over Rs 1,180 billion in the current fiscal year and tomorrow July 16 is the last day of the year.

The data from the Office of Auditor General show that to date, the revenue collection in the current fiscal year is worth Rs 1,035 billion and it is 87.7 percent of the target.

According to the Office, there is a target of collecting tax revenue of around Rs 1,068 billion in the current fiscal year and the collection to date stands at over Rs 957 billion and this is 89.65 percent of the target.

Similarly, the collection towards the non-tax revenue is Rs 77.19 billion against the target of around Rs 113 billion and this is 69.23 percent of the target.

The government expects to gain Rs 5,992 billion towards the foreign grants and the collection is so far slightly over Rs 1388 billion.

The new fiscal year is commencing on July 17 and in this brief period, some figures may increase in the tax and non-tax revenue collections. The overall revenue collection is so far 88.41 of the target, it is said.

Similarly, the government expenditures in the current fiscal is 78.22 percent of the total target.

The government had set a target of spending around Rs 1,633 billion while the expenditures to date stands at slightly over Rs 1,277 billion and the size of current expenditures is the largest in the chart as it is amounted to over Rs 961 billion and it is 90.26 percent of the total target of Rs 1,065 billion.

More, the capital expenditures towards the development expenditures have exceeded Rs 200 billion.

The government had for the current fiscal allocated over Rs 378 billion towards the capital expenditures for the current fiscal and the spending so far is over Rs 206 billion and this is 54.58 percent of the target.