Govt collects 55% of estimated annual revenue in 6 months

File image: Ministry of Finance

Kathmandu, January 17

Records at the Ministry of Finance show that the government collected 55 per cent of estimated annual revenue in the first six months of the current fiscal year.

It suggests that the government can easily achieve the revenue target set for the year.

According to the Ministry, the government collected Rs 520 billion from mid-July, 2018 to mid-January, 2019. Of the collected revenue, Rs 244 billion was the jurisdiction of the federal government; whereas Rs 275 billion has to be shared with provincial and local governments as well.

Despite the positive figures of revenue collection, the data about spending are dismal.

The government spent just around 18 per cent of the development budget allocated for the year. The government had allocated Rs 355 billion for infrastructure development, but only Rs 55 billion has been spent so far.

It means the government will face a pressure to exhaust the fund in next six months.

Published on January 17th, Thursday, 2019 3:04 PM

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