Expenses exceed revenue targets in first five months of fiscal year, budget deficit 69 billion rupees « Khabarhub
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Expenses exceed revenue targets in first five months of fiscal year, budget deficit 69 billion rupees

17 December 2023  

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KATHMANDU: The prevailing trend in the implementation of the annual budget for the fiscal year 2080/81 indicates an impending shortfall in meeting expected targets.

As per the daily budget analysis by the Office of the Auditor General, there has been a noticeable surge in government expenses compared to the revenue earned until the end of Mangsir, marking the conclusion of the fifth month in the current fiscal year.

During this period, revenue has reached 26.07% of the annual target, with expenses already hitting 25.87%. The government initially allocated a budget of NPR 1.751 trillion for the ongoing fiscal year. By the close of Mangsir, government expenditure amounted to NPR 452.99 billion, accounting for 25.87% of the annual target.

The Office of the Auditor General reports that within the first five months of the fiscal year, current expenses stand at 31.53%, capital expenses at 11.94%, and financial administration expenses at 18.52%. Out of the allocated NPR 1.141 trillion for the current fiscal year under the current heading, NPR 359.99 billion has been expended until the end of Mangsir.

In terms of the capital heading, only NPR 36.6 billion has been spent out of the allocated NPR 302.7 billion for the annual budget. Similarly, under the financial administration heading, only NPR 56.937 billion has been spent out of the allocated NPR 307.45 billion to date.

The government has fallen short of achieving its revenue collection goal in the initial five-month period. Out of the targeted revenue collection of NPR 1.472 trillion for the current fiscal year, only 26.07% has been collected, totaling NPR 383.92 billion. The analysis of the government’s income and expenditure reveals an expense surplus of NPR 69.71 billion.

Put differently, within the first five months, the government is facing a budget deficit of over NPR 69 billion. The government aims to collect revenue of NPR 1.305 trillion from tax revenue and NPR 117.6 billion from non-tax revenue. Additionally, they aim to receive foreign aid of NPR 49.94 billion.

In the initial five months of the current fiscal year, tax revenue collection has reached 25.83% of the annual target, amounting to NPR 337.18 billion, while non-tax revenue collection stands at 22.42%, totaling NPR 26.24 billion. Until the conclusion of Mangsir, the government received foreign aid of NPR 2.75 billion.

Publish Date : 17 December 2023 16:21 PM

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