Government meets 87.71% target in revenue collection: OAG

KATHMANDU: The government had a target of collecting revenue of over Rs 1,180 billion in the current fiscal year and July 16 is the last day of the year. The data from the Office of Auditor General (OAG) show that to date, the revenue collection in the current fiscal year is worth Rs 1,035 billion and it is 87.71% of the target. According to the Office, there is a target of collecting tax revenue of around Rs 1,068 billion in the current fiscal year and the collection to date stands at over Rs 957 billion and this is 89.61% of the target. Similarly, the collection of the non-tax revenue is Rs 77.19 billion against the target of around Rs 113 billion and this is 69.23% of the target. The government expects to gain Rs 5,992 billion towards the foreign grants and the collection is so far slightly over Rs 1,388 billion. The new fiscal year is commencing on July 17 and in this brief period, some figures may increase in the tax and non-tax revenue collections. The overall revenue collection is so far 88.41 of the target, it is said. Similarly, the government expenditures in the current fiscal amount to 78.22% of the total target. The government had set a target of spending around Rs 1,633 billion while the expenditures to date stand at slightly over Rs 1,277 billion and the size of current expenditures is the largest in the chart as it amounted to over Rs 961 billion and it is 90.26% of the total target of Rs 1,065 billion. Moreover, the capital expenditures towards the development expenditures have exceeded Rs 200 billion. The government had for the current fiscal allocated over Rs 378 billion towards capital expenditures for the current fiscal and the spending so far is over Rs 206 billion and which is 54.58% of the target. Meanwhile, Auditor General Tankamani Sharma, Dangal on Thursday submitted the 59th annual report of the Office of the Auditor General (OAG) for the fiscal year 2077/78 BS (2020/21) to President Bidya Devi Bhandari. (With inputs from RSS) READ ALSO:

• Auditor General submits OAG annual report to President
• 64th anniversary of OAG: Prez insists on taking arrears clearance efforts as campaign
• Bagmati province estimated to have the highest contribution to national GDP
• Let’s commit to finding way for sustainable socio-economic development: Prez
• OAG submits annual report to President Bhandari