Jun 30, Kathmandu:There are 16 days left till the end of the current fiscal year. The government had set a target of spending Rs. 378.97 billion on development in the current fiscal year. The government had set a target of spending 10 percent every month. However, this is not the case.

According to the Office of the Comptroller and Auditor General which keeps daily accounts of the government, only 40 percent of the total allocated budget has been spent on development works till Wednesday. According to the office, a total of Rs. 151.94 billion has been spent. This is equivalent to 39.96 percent of the target.

The total expenditure of the government is 67.94 percent. Out of the target of Rs. 16.32 billion 82.92 million, Rs. 119.37 billion has been spent so far. 67.94 percent of the total allocation. The highest expenditure of the government is seen in the current expenditure. The government has so far spent Rs. 866.90 billion or 81.38 percent of the current expenditure target of Rs.

Similarly, out of the target of Rs. 189.43 billion for financial management, Rs. 91.37 billion or 48.24 percent has been spent so far. The government makes such arrangements for regular repayment of loans and interest payments. The government also has a regular liability, for which the amount is allocated in the budget every year under the heading of financial management. This is a matter of cost.

Now let's look at the government's income. According to the office, a total of Rs. This is 82.2 percent of the total target. The government had set a target of collecting Rs. 1,180.60 billion for the current fiscal year. Among these Rs. 899.15 billion has been collected from the tax revenue. This is 84.19 percent of the total target. The current income tax revenue was targeted at Rs. 1,067.96 billion. Similarly, out of the target of Rs. 59.91 billion, Rs. 13.88 billion or 23.17 percent has been achieved so far.

Finance Minister Janardan Sharma, while presenting the budget for the coming fiscal year, presented a revised estimate of total government expenditure of Rs. 1447.51 billion or 88.6 percent in the current fiscal year. Of the total government expenditure, recurrent expenditure is estimated at Rs. 971.86 billion or 91.2 percent, capital expenditure at Rs. 390 million or 79.4 percent and financial expenditure at Rs. 175.56 billion or 92.7 percent. It belonged to the finance minister.

The state of revenue collection so far has been satisfactory amid the dire situation of the covid-19 pandemic. In the current Fiscal Year, it is estimated that Rs. 1,152.42 billion will be collected in line with the revenue mobilization target. Which is 18 percent more than the previous fiscal year.

In the current Fiscal Year, it is estimated that Rs. 24.81 billion will be mobilized for foreign aid and Rs. 172.88 billion for loans. As of mid-April of the current Fiscal Year, Rs. 135 billion in internal debt has been raised. According to the Finance Minister, the internal debt of Rs. 231.30 billion is expected to be mobilized in the current fiscal year.