Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has collected revenue worth Rs 603.92 billion in the first eight months of the current fiscal year. This is 59.69 percent of the annual target and 97.80 percent of the mid-February target.
The details were presented at a meeting of the second quarterly progress review of the current fiscal year held at the Ministry of Finance on Wednesday.
The government has set a target of raising Rs 1.11 trillion in revenue in the current fiscal year.
Speaking on the occasion, Finance Minister Bishnu Prasad Poudel said that the COVID-19 would not affect revenue collection. Stating that many sectors other than tourism have returned to normal, Minister Poudel directed related agencies to get results in a way that the revenue collection is higher than the target.
As of today, the recurrent expenditure of the government stands at Rs 455 billion, which is 48.18 percent of the annual allocation. Similarly, the capital expenditure so far stands at Rs 79.87 billion.
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