Govt income reaches Rs. 404 billion in five months

By A Staff Reporter,Kathmandu, Dec. 21: The government has collected around Rs. 398.13 billion in revenue in the first five months of the current fiscal year 2024/25.

According to the daily budgetary report of the Financial Comptroller General Office under the Ministry of Finance, the revenue collection of the government stands at Rs. 398.13 billion which is 28.05 per cent of the annual target (Rs. 1,419.30 billion) during the review period.

Out of which, tax revenue stood at Rs. 361.13 billion or 28.12 per cent of the target and non-tax revenue stood at Rs. 37 billion or 27.39 per cent of the annual target.

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

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

The government collected only 25.45 per cent (Rs. 362.04 billion) revenue of the annual target of Rs. 1,422.5 billion in the first five 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. 6.17 billion under other recipients in the first five months of the current fiscal year. 

During the review period, the total income of the government stood at Rs. 404.30 billion. This is 27.47 per cent of the annual receipts target of the government. 

Similarly, the capital budget expenditure has remained low during the first five months of the current fiscal year 2024/25.

The capital expenditure stands at only 11.58 per cent by mid-December 2024, according to the report.

Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 40.8 billion was spent in the first five months of the current fiscal year, starting from July 16 to December 14, 2024. 

Capital expenditure was only 11.5%  

The capital expenditure has fallen this year as compared to the same period last fiscal year of 12 per cent.

The sluggish pace of work in the national pride projects and other projects has resulted in poor capital expenditure. 

The recurrent expenditure of the government stood at 31.87 per cent (Rs. 363.54 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.

The recurrent expenditure stood at 3153 per cent same period last year.

Likewise, the government has spent Rs. 151.76 billion under the heading of financing in the first five months of the current fiscal year. 

That is 41.32 per cent of the total allocation of Rs. 367.2 billion. 

The government had unveiled a budget of Rs. 1,860.30 billion for the current fiscal year in May.

During the review period, the government spent Rs. 404.3 billion which is 27.47 per cent of the total budget allocation.