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Kathmandu, Nepal, January 16, 2023: The government has spent higher than the total revenue collected during the first half of the current fiscal year 2079/080.
The government has collected Rs 494.84 billion as revenue while spent Rs 576.34 billion only during the six month period of mid-July to mid-January.
According to the records mentioned by the Financial Comptroller General Office (FCGO), the revenue collection fell short of the total expenses by Rs 81.50 billion.
The deficit in the government’s financial transaction occurred due to a surge in the recurrent expenditure compared to the slow revenue collection.
The government has spent about 12 percent higher than the amount allocated under the heading during the same period last year. The government’s expenditure has not decreased despite the decrease in revenue collection.
Likewise, the revenue collected during the review period is just 33.93 percent of the annual target amount of Rs 1.403 trillion. The government has spent just 14.05 percent of the amount allocated for development projects.
