Govt achieves 39 pc of income and 35 pc of expenditures by mid-year: FCGO

KATHMANDU: The half-yearly budget review shows that 39% of the targeted income and 35% of the projected expenditures have been achieved.

According to the Financial Comptroller General Office (FCGO), government expenditures reached over Rs 667.61 billion, representing 35.89% of the annual target, as of January 13 of the current fiscal year.

The government set an annual income and expenditure target of over Rs 1,860.33 billion for the fiscal year 2024/25. Of the total allocation of over Rs 1,140.66 billion for the fiscal year, spending amounted to Rs 452 billion, or 39.63%.

Capital expenditure stood at over Rs 56.93 billion, or 16.16% of the total capital expenditure allocation of Rs 352.35 billion.

Expenditures under the fiscal management heading amounted to over Rs 158.66 billion, which is 43.2% of the total allocation of over Rs 367.28 billion.

The government aimed to collect over Rs 1,471.62 billion in revenue for the fiscal year, and by mid-year, Rs 574.76 billion had been collected, achieving 39.06% of the target. In terms of taxation, Rs 489.39 billion, or 38.11% of the target, has been collected, while non-tax revenue collections reached over Rs 70.28 billion, or 51.97% of the target.

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Additionally, the government targeted receiving over Rs 52.32 billion in foreign grants, and as of mid-January, more than Rs 7.37 billion has been received.