Government achieves 17.49% of revenue target in first quarter of fiscal year

Kathmandu, October 17 — In the first three months of the current fiscal year (Shrawan, Bhadra, and Ashwin), the government has achieved a revenue collection of 17.49% of its target. During this period, the total revenue collected amounts to NPR 248.26 billion. The government has set a revenue collection target of NPR 1.419 trillion for the fiscal year.

According to the Finacial Comptroller General Office, NPR 81.87 billion was collected in Ashwin alone. Previously, by the end of Bhadra, the revenue for the first two months reached NPR 166.38 billion.

In the same period last year, the revenue collection was NPR 219.11 billion, indicating a growth of 13.30% year-on-year.

In Ashwin of the previous year, revenue collection stood at NPR 78.03 billion. Thus, the revenue collection for Ashwin this year reflects a modest increase of 4.91%.

The growth rates for Shrawan and Bhadra were 20.11% and 15.18%, respectively. In Shrawan alone, revenue collected amounted to NPR 94.74 billion, compared to NPR 78.87 billion in the previous year.

Additionally, in Bhadra, NPR 71.64 billion was collected, up from NPR 62.20 billion the year before.

Expenditure overview

The government has set a target to spend NPR 1.860 trillion in the current fiscal year. In the first three months, NPR 329.20 billion has been expended, which constitutes 17.7% of the total target.

Of this expenditure, NPR 229.85 billion was allocated for current expenses, NPR 29.37 million for capital expenditures, and NPR 69.97 billion for financial management, corresponding to 20.15%, 8.34%, and 19.05% of their respective targets.

Grants and other revenues

During this three-month period, the government has not received any grant funding from donor agencies. While it aimed to secure NPR 52.32 billion in grants for the entire year, current achievements are at zero. In the same period last year, grants received amounted to NPR 6.18 billion.

Moreover, the government has reported other revenues amounting to NPR 4.75 billion during this period, compared to NPR 1.54 billion last year. These revenues include returns on investments in foreign assets and compensation, among other sources.