Revenue collection records slight improvement

Kathmandu, Aug. 19: Revenue of around Rs. 95 billion has been collected in the first month of the current fiscal year 2024/25.

According to the daily report of the Financial Comptroller General Office under the Ministry of Finance, the revenue collection of the government stands at Rs. 94.7 billion which is 6.68 per cent of the annual target (Rs. 1,419.30 billion) during the review period.

Out of this, tax revenue stood at Rs. 77.41 billion or 6.03 per cent of the annual target and non-tax revenue stood at Rs. 17.33 billion or 12.83 per cent of the target.

Of the total revenue collection target of Rs 1,419.3 billion, targets have been set to raise Rs. 1,284.2 billion under tax revenue and Rs. 135.09 billion under the non-tax revenue for the current fiscal year.

Revenue collection has increased during the first month of the current fiscal year as compared to same period last fiscal year 2023/24.

The government had collected revenue of only 5.54 per cent (Rs. 78.87 billion) of the annual target of Rs. 1,422.5 billion in the first month of the last fiscal year. 

The revenue collection and capital expenditure of the government shrank in the last fiscal year 2023/24. The revenue collection was limited to 72.43 per cent (Rs. 1,030.34 billion) of the annual target of Rs. 1,422.54 billion in the last fiscal year 2023/24.

During the review period of the current fiscal year 2024/25, there was no grant amount received by the government. The government has set an annual target of Rs. 52.32 billion grant to be received in the current fiscal year.

However, the government has received Rs. 2.21 billion under other heads in the first month of the current fiscal year. The total income of the government stood at Rs. 96.95 billion in the first month of the current fiscal year.

During the review period, the government has spent only Rs. 40.2 billion. The government is in surplus in the first month of the current fiscal year due to lower expenses than total income. 

The government budget stands at a surplus of Rs. 56.75 billion during the review period. In the first month, the government has spent only 2.16 per cent of the total budget of Rs. 1,860.30 billion for the current fiscal year.

Of the total budget expenses, capital expenditure stands only at 2.43 per cent of total allocation in the first month of the current fiscal year. Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 8.55 billion has been spent by August 16, 2024.

The capital expenditure of the government in the first month of the current fiscal year has increased as compared to same period last fiscal year. 

Only 0.27 per cent of the total capital budget allocation had been spent in the first month of the last fiscal year. 

The government had spent only Rs. 82 million of the total allocation of Rs. 302 billion in the first month of the last fiscal year. Of the Rs. 302 billion allocated under capital expenditure, only Rs. 191.71 billion had been spent in the last fiscal year.

During the review period, the recurrent expenditure of the government stood at 1.09 per cent (Rs. 12.38 billion) during the review period. The government has allocated Rs. 1,140.66 billion under the heading of recurrent expenditure for the current fiscal year.

Likewise, the government has spent Rs. 19.27 billion under the heading of financing in the first month of the current fiscal year. That is 5.25 per cent of the total allocation of Rs. 367.2 billion.