Govt spends 7.39 pc of budget in first 2 months of current FY: OAG

KATHMANDU: The government's expenditure in the first two months of the current fiscal year 2024/25 is 7.39%.

The government spent 7.39% of the total allocations, or Rs 137.5 billion, by September 16, according to the Office of the Auditor General.

The budget for the current fiscal year is Rs 1,860.3 billion. Expenditures towards capital expenditure are Rs 82.98 billion, or 7.28% of the total allocations of Rs 1,140.6 billion. For capital expenditure, the allocation is Rs 352.35 billion, with expenditures till mid-September at 4.23%, or Rs 14.89 billion. For financial management, the allocations are Rs 367.28 billion, with expenditures at Rs 39.67 billion, making up 10.8%.

In the first two months of the current fiscal year, revenue collections are 11.52% of the annual target. The target is Rs 1,471.62 billion, with collections amounting to Rs 169.51 billion by September 16.

Of the revenue collected during this period, 11.31% of the annual target has been collected as tax revenue, amounting to around Rs 145 billion. The annual target for tax revenue is Rs 1,284.20 billion.

For non-tax revenue, the annual target is Rs 135.09 billion, with collections at Rs 21.19 billion, making up 15.69% of the target.

The government aims to garner Rs 52.32 billion in foreign grants for the current fiscal year, but so far, no collections have been made.