Govt generates Rs. 166 bn revenue in first two months of current fiscal

By A Staff Reporter,Kathmandu, Sept. 18:The government has made an income of Rs. 169.51 billion during the first two months of the current fiscal year.

According to the daily report of the Financial Comptroller General Office under the Ministry of Finance, the total income of the government stood at 11.52 per cent of the annual target during the first two months of the current fiscal year.

The government has a target to make an income of Rs. 1,471.62 billion for the current fiscal year 2024/25.

During the review period, a revenue worth Rs. 166.38 billion has been collected. This is 11.72 per cent of the annual target of Rs. 1,419.30 billion.

Out of total revenue collected in two months, tax revenue stood at Rs. 145.19 billion or 11.31 per cent of the target and non-tax revenue stood at Rs. 21.19 billion or 15.69 per cent of the annual target.

Of the total revenue collection target of Rs 1,419.3 billion, target has been set to collect Rs. 1,284.2 billion under tax revenue and Rs. 135.09 billion under non-tax revenue in the current fiscal year.

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

The government collected revenue of only 9.92 per cent (Rs. 141 billion) of the annual target of Rs. 1,422.5 billion in the first two months of the last fiscal year. 

During the review period of the current fiscal year 2024/25, no grant amount was received. The government has set a target to receive Rs. 52.32 billion in grants in the current fiscal year.

However, the government has obtained Rs. 3.13 billion under other recipients in the first two months of the current fiscal year. 

During the review period, the government spent Rs. 137.55 billion of its annual budget, and it is in surplus as it spent less than the income it made. 

The government budget stood at a surplus of Rs. 31.96 billion during the review period.

The government has spent a budget of only 7.39 per cent in the first two months 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 4.23 per cent of total allocation during the review period of the current fiscal year.

Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 14.89 billion has been spent by September 16, 2024.

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

Only 2.7 per cent of the total capital budget allocation was spent in the first two months of the last fiscal year. The government had spent only Rs. 8.16 billion of the total allocation of Rs. 302 billion in the first month of the last fiscal year. 

During the review period, the recurrent expenditure of the government stood at 7.28 per cent (Rs. 82.98 billion) during the review period. 

The government has allocated Rs. 1,140.66 billion in the heading of recurrent expenditure for the current fiscal year.

Likewise, the government has spent Rs. 39.67 billion under the heading of financing in the first two months 

of the current fiscal year. That is 10.8 per cent of the total allocation of Rs. 367.2 billion.