Revenue collection, expenditure lag in first five months: FCGO

KATHMANDU: The government's income and expenditure performance has been weak in the first five months of the current fiscal year 2024/25, according to the Financial Comptroller General Office (FCGO).

The government has raised 28% of the annual targeted revenue and spent approximately 30% of the budget as of mid-December.

The data indicates that the government's development expenditure is lagging. Of Rs 352.35 billion allocated under the capital heading for this fiscal year, only Rs 40.8 billion (11.58%) has been spent so far.

Expenditure under the current heading stands at 31.87% as of  mid-December, with Rs 363.55 billion out of the Rs 1,140.66 billion allocated for the fiscal year spent to date.

Additionally, 41.32% of annual budget allocated under the fiscal management heading has been utilised. Rs 367.28 billion was earmarked for this heading, primarily used to pay the principal and interest on public debt, with Rs 151.76 billion spent so far.

Revenue collection as of mid-December in the current fiscal year is Rs 405.77 billion, or 27.57% of the annual target. The government had set a target of collecting Rs 1,471.62 billion in revenue for the fiscal year.

The government also aimed to receive Rs 52.32 billion in foreign grants this fiscal year, but none have been received so far.

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