KATHMANDU: The government's income and expenditure both are weak in the first five months of the current Fiscal Year 2024/25. The government has raised 28 per cent of the annual targeted revenue while spending around 30 percent budget as of December 15, according to the Office of the Comptroller General.
The data shared by the Office shows that the government's development expenditure has been weak. Rs 352 billion 354 million had been allocated under the capital heading for the current fiscal year and of this amount, only Rs 40 billion 800 million and 600 thousand or 11.58 percent has been spent so far.
In the current heading, the expenditure until December 15 stands at 31.87 per cent. Rs 363 billion 551 million and 400 thousand, out of Rs 1140 billion 664 million and 500 thousand allocated under the current heading for this fiscal year, has been spent so far.
Similarly, 41.32 per cent of the annual budget allocated under the fiscal management heading has been spent. Rs 367 billion 284 million and 500 thousand had been set aside under this heading for the current fiscal year. The budget allocated under this heading is mainly spent in paying the principal and interest of the public debt. Rs 151 billion 765 million and 700 thousand has been spent under this heading so far.
The revenue collection as of December 15 in the current fiscal year is Rs 405 billion 773 million, which is 27.57 per cent of the annual target. The government had set the target of collecting revenue worth Rs 1471 billion 629 million and 500 thousand for the current fiscal year.
The government had the target of taking Rs 52 billion 326 million and 500 thousand in foreign grant this fiscal year but has not taken any so far.
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