Revenue collection up by 11%, Rs. 922 billion raised in 10 months

By A Staff Reporter,Kathmandu, May 18: Revenue of around Rs. 922.43 billion has been collected in the first 10 months of the current fiscal year 2024/25.

According to the daily report of the Financial Comptroller General Office under the Ministry of Finance, revenue collection of the government stands at Rs. 922.34 billion which is 65 per cent of the annual target (Rs. 1,419.30 billion) by May 14, 2025 of the current fiscal year.

The revenue collection has increased almost by 11 per cent (Rs. 90.41 billion) during the review period as compared to same period last fiscal year. The government had collected revenue of Rs. 831.93 billion (58.48 per cent) by mid-May 2024 of the last fiscal year.

Out of total revenue collection of Rs. 922.34 billion, tax revenue stood at Rs. 828.94 billion or 64.55 per cent of the target and non-tax revenue stood at Rs. 93.49 billion or 69.2 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.

During the review period of the current fiscal year 2024/25, the government has received a grant amount of Rs. 16.11 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. 11.20 billion under other recipients in the first 10 months of the current fiscal year. 

During the review period, the total income of the government stood at Rs. 949.76 billion. This is almost 64.54 per cent of the annual receipts target of government. 

The government has estimated a target of collecting Rs. 1,471.62 billion revenue for the current fiscal year.

Capital expenditure stands at only 34 %

During the review period, the government has spent budget of around Rs. 1,157.89 billion. It is 62.24 per cent of the total budget of Rs. 1,860.30 billion for the current fiscal year.

During the first 10 months of the last fiscal year, the government had spent a budget only 60.35 per cent (Rs. 1,056.89 billion) of the total budget allocation of Rs. 1,751.31 billion.

Of the total budget expenses, capital expenditure stands only at 34.16 per cent of total allocation in the first 10 months of the current fiscal year.

Of the Rs. 352.35 billion allocated under capital expenditure, only Rs. 120.37 billion has been spent by May 14, 2025. 

Even though the government aims to increase capital expenditure, the spending of capital expenditure is slightly lower as compared to same period last fiscal year. 

The capital expenditure is three percentage points lower during the review period as compared to last fiscal year.  

The capital expenditure was 37.04 per cent of total allocation in the first 10 months of the last fiscal year.

The recurrent expenditure of the government stood at 67.79 per cent (Rs. 773.22 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. 264.28 billion under the heading of financing in the first 10 months of the current fiscal year. 

That is 71.96 per cent of the total allocation of Rs. 367.2 billion. 

During the half-yearly review of the budget, the government has already lowered budget's income and expenditure targets for the current fiscal year.