Himal Press 
Data Source: FCGO
KATHMANDU: Nepal’s fiscal deposit climbed to Rs 149.49 billion over the first five months of the current fiscal year, highlighting a widening gap between government spending and revenue.
Data released by the Financial Comptroller General Office (FCGO) shows Nepal mobilized a total revenue of Rs 414.97 million as of mid-December of the current fiscal year, which began in mid-July. Total expenditure during the period, however, reached Rs 564.46 million.
Of the total revenue, Rs 382.23 billion came from tax revenue, which is 27.45% of the revenue target of Rs 1,480 billion for the current fiscal year. If revenue mobilization figures of the first five months are anything to go by, the government is on track to miss its revenue targets yet again.
Similarly, Rs 24.07 billion came from non-tax revenue, Rs 5.12 billion from grants, and Rs 3.47 billion from other receipts.
The government has set a target of raising Rs 154.41 billion from non-tax revenue and Rs 53.44 billion from grants in the current fiscal year.
Similarly, total expenditure from the government treasury over the five months stands at Rs 564.46 billion, which is just 28.74% of the target.
The government has proposed ot spend Rs 1,964.11 billion in the current fiscal year, which ends in mid-July next year.
Of the total expenditure, Rs 398.04 billion is toward recurrent expenditure, which is 33.7% of the target. Capital spending, however, remains at a disappointing 8.3%. Of the total capital budget of Rs 407.88 billion allocated for the current fiscal year, the government has managed to spend only Rs 33.87 billion till mid-December.
Despite repeated budgetary commitments and early-year guidelines to expedite capital spending, progress on major infrastructure and national pride projects has remained slow.
The government achieved the highest progress in financial management – funds set aside for debt servicing. Out of Rs 375.24 billion allocated for financial management, Rs 132.53 million has been spent so far.
