Government's income, expenditure remain weak in seven months

Kathmandu, Feb 14: Both income and expenditure of the government have remained weak till the February 12 of the current fiscal year 2024/25.   

According to the Financial Comptroller General Office, the income of the government is 44.83 per cent and the expenditure 40.58 per cent till the period of the annual target. 

The government had brought a budget of Rs 1 trillion 860 billion and 303 million for the current fiscal year and set a target of collecting the revenue worth Rs 1.47 trillion.  But the government through half-yearly review has revised the estimate to spend 90.99 per cent (Rs1.69 trillion) of the annual budget after income and expenditure remained weak. 

The expenditure of the government stands at 45.82 per cent till February 12. Out of Rs 1.14 trillion budget allocated for current expenditure, Rs 522 billion has been spent till seven months. 

Similarly, the government has spent Rs 68.41 billion (19.42 per cent) of total Rs 352 billion capital expenditure during the period. 

The expenditure of the fiscal management used to pay principal and interest of public debt stands at 44.6 per cent so far. Out of Rs 3.67 billion budget under fiscal management heading for current fiscal year, only 44.6 per cent has been spent.  

Not only the budget expenditure of the government, but also revenue collection is slow. The government had set a target of collecting revenue worth Rs 14.71 billion in the current fiscal year, only Rs 6.29 billion (44.83 per cent of the annual target) has been collected in seven months.  

A total of 44.05 per cent tax revenue (Rs 12.84 billion) and 57.15 per cent non-tax revenue (Rs 5.65 billion) was collected during the period. 

Likewise, the government had set a target of receiving foreign grants worth Rs 52.32 billion for the current fiscal year, it managed to receive only Rs 8.82 billion in seven months of the current fiscal year. It is 16.87 per cent of the annual target. (RSS)