Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Government has reported that its revenue collection in the first month of the current fiscal year has significantly surpassed its expenditure. According to the Office of the Comptroller General, the government spent NPR 40.21 billion in the month of Shrawan, while it managed to collect NPR 96.96 billion in revenue.
This figure indicates that revenue collection for the month accounted for 6.59 percent of the annual target, while expenditure was only 2.16 percent of the yearly budget goal. Specifically, NPR 12.38 billion was utilized for recurrent expenditures, making up 1.09 percent of the yearly target. Additionally, NPR 8.55 billion was spent on capital expenditures, representing 2.43 percent of the annual target.
In total, NPR 19.27 billion was spent on capital expenditures in the first month, which equates to 5.25 percent of the annual allocation. For the current fiscal year, the government has set aside NPR 1.14 trillion for recurrent expenditures, NPR 352.35 billion for capital expenditures, and NPR 367.28 billion for financial management.
The government’s revenue target for this fiscal year stands at NPR 1.471 trillion. This includes NPR 1.284 trillion from tax revenue, NPR 135 billion from non-tax revenue, and NPR 52.33 billion from foreign grants. Notably, no foreign grants were received during the first month of the fiscal year.
Out of the total revenue collected in Shrawan, NPR 77.41 billion came from tax revenue, while NPR 17.33 billion was generated from non-tax sources. The significant revenue collection compared to expenditure suggests a strong start to the fiscal year for the government’s financial management.
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