Revenue collection increases by 13%

By A Staff Reporter

Kathmandu, Jan. 15: Revenue of around Rs. 559 billion has been collected in the first six 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 during the review period stands at Rs. 559.60 billion which is 39.43 per cent of the annual target (Rs. 1,419.30 billion).

The revenue collection has increased by 13 per cent (Rs. 63 billion) during the review period as compared to same period last fiscal year. The government had collected revenue of Rs. 496.74 billion by mid-January 2024 of the last fiscal year.

Out of the total, tax revenue stood at Rs. 489.39 billion or 38.11 per cent of the annual target and non-tax revenue stood at Rs. 70.2 billion or 51.97 per cent of the total annual target.

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

The revenue collected so far is 84 per cent of the half-yearly target. The target was to collect Rs. 672 billion in revenue in the first six months of the current fiscal year.

In the month of Poush (mid-December 2024 to mid-January 2025), revenue of around Rs. 160 billion has been collected.

7.37 billion grants received  

During the review period of the current fiscal year 2024/25, the government has received a grant amount of Rs. 7.37 billion. The government has set a target to receive Rs. 52.32 billion in grants in the current fiscal year. Similarly, the government has obtained Rs. 7.78 billion under other receipts in the first six months of the current fiscal year. 

During the review period, the total income of the government stood at Rs. 574. 76 billion. This is almost 40 per cent of the annual receipts target of government.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the higher revenue collection compared to the last year is positive and said that there will be a focus on revenue collection as per the target in coming days.

Spokesperson of the Ministry of Finance Mahesh Bhattarai said that despite the floods and landslides of last September, the reduction in the import of petroleum products, vehicles running on petroleum products, the increase in the number of import of electric vehicles, there has been a significant revenue collection in the first six months of the current fiscal year.

Capital expenditure stands at 16%

During the review period, the government has spent around Rs. 667.60 billion. It is only 35.89 per cent of the total budget of Rs. 1,860.30 billion for the current fiscal year.

During the first six months of the last fiscal year, the government had spent only 32.36 per cent (Rs. 566.67 billion) of the total budget allocation of Rs. 1,751.31 billion.

Of the total budget expenses, capital expenditure stands only at 16.16 per cent of total allocation in the first six months of the current fiscal year.

Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 56.93 billion has been spent by January 13, 2025. 

The recurrent expenditure of the government stood at 39.63 per cent (Rs. 452 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. 158.66 billion under the heading of financing in the first six months of the current fiscal year. 

That is 43.2 per cent of the total allocation of Rs. 367.2 billion.