Kathmandu. In the first seven months of the current fiscal year 2082/83, the government’s income and expenditure have been weak. According to the Office of Financial Comptroller General, the government’s income has shrunk to 44 percent of the annual target and 40 percent of the expenditure.

Out of the allocated budget of Rs 1.964 trillion for the current fiscal year, Rs 801.37 billion has been spent till mid-February. This is equivalent to 40.8 percent of the annual allocation. Of the Rs 1180.98 billion allocated in the current fiscal year, 47.62 per cent or Rs 562.37 billion has been spent.

Similarly, Rs 407.88 billion has been allocated for capital heading, out of which 15.62 per cent or Rs 63.72 billion has been spent. The expenditure under the head of financial management till mid-February is 46.71 percent. Of the Rs 375.24 billion allocated for this title, Rs 175.27 billion has been spent.

The government has set a target of collecting revenue worth Rs 1,533.44 crore for the current fiscal year, which has achieved 44.49 per cent progress till mid-February. So far, revenue worth Rs 682.16 billion has been collected. Tax revenue of Rs 599.31 billion or 45.21 per cent of the target has been collected while Rs 42.55 billion or Rs 65.71 billion has been collected in non-tax revenue.

The government had set a target of collecting foreign aid worth Rs 53.44 billion in the current fiscal year. According to the office, it has received Rs 12.83 billion or 24.02 percent of the annual target by mid-February.