KATHMANDU: With 19 days remaining in the current fiscal year, the government has collected 75.17 percent of its annual revenue target, according to the Office of the Financial Comptroller General (OFCG).
As of Friday, total revenue collection stood at Rs 1.112 trillion, against the annual target of Rs 1.48 trillion. To meet the target by the end of the fiscal year, the government must collect an additional Rs 367.51 billion, averaging around Rs 19.34 billion per day.
Tax revenue collection has reached 76.20 percent of the annual target. Of the Rs 1.325 trillion targeted from tax revenue, the government has collected Rs 1.010 trillion so far.
Non-tax revenue has also fallen short of expectations. Against a target of Rs 154.41 billion, the government has collected Rs 102.32 billion.
Foreign grants remain significantly below target. Of the projected Rs 53.44 billion, only Rs 24.11 billion has been received, representing 45.11 percent of the annual goal.
The government has also generated Rs 6.50 billion under other receipts, taking total government income to Rs 1.143 trillion, or 74.54 percent of the annual target.
Meanwhile, total government expenditure has reached Rs 1.405 trillion, accounting for 71.53 percent of the annual spending target. Government spending on Friday alone amounted to Rs 5.36 billion.
Under recurrent expenditure, the government has spent Rs 949.76 billion, or 80.42 percent of the allocated Rs 1.181 trillion.
Capital expenditure, which finances infrastructure and development projects, has remained weak. The government has spent Rs 142.24 billion, or 34.87 percent of the Rs 407.89 billion allocated for capital spending this fiscal year.
Financial management expenditure, which includes repayment of loan principal and interest, has reached Rs 313.00 billion, representing 83.41 percent of the Rs 375.24 billion budgeted under the heading, according to the OFCG.
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