Kathmandu, July 16
The government has failed to meet its targets for revenue collection and budget expenditure for the recently concluded the fiscal year 2020/21.
According to a preliminary report of the Financial Comptroller General Office, the government could collect only 92.74 per cent of the targeted revenue whereas the spending rate stayed at a problematic 80.08 per cent.
Moreover, the development (capital) expenditure was restricted to just 64.69 per cent and the recurrent expenditure to 89.75 per cent.
Of the development expenditure, around 37 per cent was spent in the last month of the fiscal year only.
Whereas the government had introduced a budget plan of Rs 1.474 trillion, it could spend only Rs 1.18 trillion. Nonetheless, the government had already revised the expenditure target twice to limit it to Rs 1.266 trillion.
Likewise, the government collected Rs 938.32 billion in revenues, 92.74 per cent of the initial target (Rs 1.011 trillion). Later the government had revised the target to 94.8 per cent, but the actual performance was limited to 92.74 per cent.