सिंहदरबार संवाददाता
Kathmandu. Both government income and expenditure have been weak as of mid-Magh of the current fiscal year 2081/82. According to the data of the Comptroller General’s Office, the government’s income for this period is 44.83 percent and expenditure is 40.58 percent compared to the annual target.
The government had brought a budget of 1860 billion 300 million for the current fiscal year and had set a target of collecting revenue of 1471 billion 629.5 million.
However, after both income and expenditure weakened, the government has revised its estimate to spend only 90.99 percent of the budget compared to the initial allocation through the semi-annual review.
That is, the revised estimate is to spend only 1692 billion 732.5 million in the current fiscal year. The government’s current expenditure as of mid-Magh is 45.82 percent compared to the initial allocation.
Out of the allocation of 1140 billion 660 million 450 million under the current heading, 522 billion 620 million 530 million has been spent in seven months. Similarly, out of the budget allocation of 352 billion 354 million under the capital heading, only 68 billion 410 million 590 million has been spent.
That is, the capital expenditure so far compared to the initial allocation is 19.42 percent. The current expenditure under the financial arrangement heading, which is used to pay the principal and interest on public debt, is 44.6 percent.
Out of the budget of Rs 367.28 billion 45 million under the financial arrangement heading for the current fiscal year, 44.6 percent of the initial allocation has been spent so far.
Not only is the government’s budget expenditure weak, but revenue collection is also weak. The government, which has set a target of raising a total annual revenue of Rs 1471.62 billion 95 million, has collected Rs 659.73 billion 57 million in revenue by the end of Magh.
The revenue collection for the seven months is 44.83 percent of the initial target. During this period, tax revenue has increased by 44.05 percent and non-tax revenue by 57.15 percent. The government has set a target of collecting Rs 1284.20 billion 96 million in tax revenue, but so far it has collected Rs 565.64 billion 36 million.
Similarly, the annual target of collecting Rs 135.93 billion 34 million in non-tax revenue has been collected by mid-Magh, which is 57.15 percent of the initial target, or Rs 77.21 billion 30 million.
The government, which had set a target of collecting Rs 52.32 billion 65 million in foreign grants for the current fiscal year, has so far collected only Rs 8.82 billion 60 million. This is 16.87 percent of the annual target.
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