Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government had set a target of collecting revenue of over Rs 1,180 billion in the current fiscal year and tomorrow (July 16) is the last day of the fiscal year.
The data from the Office of Auditor General shows that the revenue collection so far in the current fiscal year is worth Rs 1,035 billion and it is 87.7 percent of the target.
According to the office, the government had set a target of collecting tax revenue of around Rs 1,068 billion in the current fiscal year and the collection till date stands at over Rs 957 billion and this is 89.65 percent of the target. Similarly, the collection towards the non-tax revenue is Rs 77.19 billion against the target of around Rs 113 billion and this is 69.23 percent of the target.
The government expects to gain Rs 5,992 billion from the foreign grants and the collection is so far over Rs 1,388 billion.
The new fiscal year is commencing on July 17 and in this brief period, some figures may increase in the tax and non-tax revenue collections. The overall revenue collection is so far 88.41 of the target, the report said.
Similarly, the government expenditures in the current fiscal is 78.22 percent of the total target. The government had set a target of spending around Rs 1,633 billion while the expenditures till date stands a little more than Rs 1,277 billion.
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