Himal Press 
KATHMANDU: The government’s budget deficit has reached Rs 156.44 billion in the first eight months of the fiscal year 2022/23. As of mid-March, the government has spent Rs 779.23 billion of its budget, while revenue collection has remained at Rs 622.78 billion.
According to the data made public by the Financial Comptroller General’s Office (FCGO), the revenue collection and budget expenditure details indicate that the government’s expenditure has exceeded its income, resulting in a deficit. In the period, the government has been able to mobilize only 42.7% of its annual revenue collection target and has only met 43.44 percent of its budget expenditure target.
The government brought an annual budget of Rs 1,793 billion for the fiscal year 2022/23 in May last year. However, due to the significant shortfall in revenue collection, it brought down the budget size by 14% to Rs 1,549 billion through the mid-term review of the budget.
In the review period, the government has managed to spend 51.46% of its recurrent expenditure, 22.15% of its capital expenditure, and 37.41% of the budget allocated for fiscal transfers. The government has managed to spend Rs 84.25 billion on capital expenditure, Rs 608.84 billion on recurrent expenditure, and Rs 86.12 billion on fiscal transfers. Data shows expenditure on fiscal transfers is higher than the capital expenditure of the government.
The government, however, has been able to mobilize only 42.7% of its revenue target till the eighth month till mid-March. The government has mobilized only Rs 622.78 billion against the target of raising Rs 1,458.60 billion.
Similarly, the government has set a target of mobilizing Rs 55.45 billion in foreign assistance. It, however, has been able to mobilize only 8.66% or Rs 4.80 billion so far.
