Government Misses Targets For Revenue, Expenditure Last Fiscal Year

Kathmandu, July 17: The implementation of the government's income and expenditure targets for the fiscal year 2082-83 BS has remained below expectation, as both indicators failed to meet their respective goals.

According to the Financial Comptroller General Office, the government's annual revenue reached 83.51 percent of the target, while the expenditure stood at 80.55 percent of the target during the last fiscal year that ended on Thursday, July 16.

Last fiscal year, the government had allocated a budget of Rs 1964.11 billion. However, only Rs 1582.16 billion had been spent by the end of June (mid-Ashar).

Towards the current expenditure, the spending amounted to Rs 1043.99 billion, making up 88.4 percent of the target of Rs 1180.98 billion

Capital expenditure remained particularly weak during the last fiscal year. Under this heading, the government spent a total of Rs 190.84 billion, which is only 46.79 percent of the total allocations of Rs 477.88 billion.

Similarly, the government spent Rs 347.33 billion under the fiscal management heading, representing 92.56 percent of the total allocations of Rs 375.24 billion.

The government, had, for the last fiscal year, set a target of collecting total revenue of Rs 1,533.44 billion, while the collection was restricted to Rs 1,280.65 billion, making up 83.51 percent of the target.

Likewise, the target of securing Rs 53.44 billion of foreign grants last fiscal year, it managed to receive only Rs 31.26 billion which makes up 58.5 percent of the target.

Likewise, the government had set a target of mobilising Rs 53.4469 billion in foreign grants during the last fiscal year. However, it received only Rs 31.2641 billion, or 58.5 percent of the target.