KATHMANDU: Both the government’s income and expenditure have been weak in the first five months of the current fiscal year 2024/25.
As of December 15, the government has collected 28% of its annual revenue target while spending around 30% of its budget, according to data from the Office of the Comptroller General.
The data reveals that development expenditure has been particularly sluggish. For the current fiscal year, Rs 352.354 billion was allocated for capital expenditure, but only Rs 40.8006 billion (11.58%) has been spent so far.
Regarding current expenditures, the government has utilized 31.87% of the allocated budget.
Out of the Rs 1,140.6645 billion earmarked for this category, Rs 363.5514 billion has already been spent.
Similarly, 41.32% of the annual budget allocated under the fiscal management heading has been utilized.
This category, which is mainly used for paying the principal and interest on public debt, was allocated Rs 367.2845 billion for the current fiscal year, and Rs 151.7657 billion has been spent to date.
In terms of revenue collection, as of December 15, the government has collected Rs 405.773 billion, which constitutes 27.57% of the annual target.
The government’s revenue target for this fiscal year is Rs 1,471.6295 billion.
Additionally, the government had set a target of receiving Rs 52.3265 billion in foreign grants for the fiscal year, but no foreign grants have been received as of now.
Comment