Expenditure exceeds income in four months of FY 2024/25

By A Staff Reporter,Kathmandu, Nov. 18: The revenue of around Rs. 323.27 billion has been collected in the first four months 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. 323.27 billion which is 22.78 per cent of the annual target (Rs. 1,419.30 billion) during the review period.

Out of this, tax revenue stood at Rs. 289.92 billion or 22.58 per cent of the target and non-tax revenue stood at Rs. 33.35 billion or 24.69 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 by 16 per cent during the first four months of the current fiscal year as compared to the same period last fiscal year 2023/24.

The government collected revenue of only 19.6 per cent (Rs. 278.75 billion) of the annual target of Rs. 1,422.5 billion in the first four 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. 5.77 billion under other recipients in the first four months of the current fiscal year. 

During the review period, the total income of the government stood at Rs. 329 billion. This is 22.36 per cent of the annual receipt target of government.

During the review period, the government has spent around Rs. 415 billion. The government is in deficit in the first four months of the current fiscal year due to higher expenses than the total income. 

The government budget is in deficit of Rs. 86 billion during the review period. During the review period, there has been a deficit of budget due to less revenue collection than the target.

The government has spent only 22.31 per cent budget in the first four months from the total budget of Rs. 1,860.30 billion for the current fiscal year.

During the first four months of the last fiscal year, the government had spent only 20.32 per cent of the total budget allocation of Rs. 1,751.31 billion.

Of the total budget expenses, capital expenditure stands only at 9.8 per cent of total allocation in the first four months of the current fiscal year.

Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 34.53 billion has been spent by November 16, 2024.  The recurrent expenditure of the government stood at 25.65 per cent (Rs. 292.52 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. 87.96 billion under the heading of financing in the first four months of the current fiscal year. That is 23.95 per cent of the total allocation of Rs. 367.2 billion.