Kathmandu. In the first six months of the current fiscal year 2082/83, both the government’s income and expenditure have been weak. According to the Financial Comptroller General’s Office, the central government’s income has shrunk to 38 percent and expenditure to 35 percent as compared to the annual target by mid-January.

The government had presented a budget of Rs 1.964 trillion for the current fiscal year. As of mid-January, Rs 690.21 billion has been spent. This is 35.14 percent of the annual target.

The current budget expenditure for this period is 41.25 percent of the annual target. Out of the allocated budget of Rs 1180.98 billion, Rs 487.14 billion has been spent so far.

The budget expenditure under the capital head has shrunk to 12.12 percent. Out of the total development budget of Rs 407.88 billion for the current fiscal year, only Rs 49.42 billion has been spent so far.

Similarly, Rs 375.24 billion has been allocated for the current fiscal year against which Rs 153.64 billion has been spent till mid-January. The expenditure under this heading is 40.95 percent of the annual allocation.

The government has set a target of making a total income of Rs 1,533.44 billion for the current fiscal year. The receipts till mid-January of the year 2018-18 billion were Rs 588.514 million or 38.38 per cent of the annual target. In this way, the total expenditure of the government has increased by Rs 101.70 billion more than the total income of the half-yearly period.

So far, 39.01 per cent or Rs 577.40 billion has been achieved against the annual target of Rs 1480 billion. Of this, 38.93 per cent or 38.93 per cent of tax revenue or Rs 516.11 billion has been achieved while Rs 61.28 billion has been collected in non-tax revenue which is 39.69 per cent of the target, according to the Financial Comptroller General’s Office. According to the office, the government has collected Rs 7.10 billion or 13.3 per cent of the annual target against the government’s target of receiving Rs 53.44 billion in the current fiscal year.