Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.

According to the data released by the Financial Comptroller General Office, the government has spent Rs 1056.89 billion as of mid-May which is

60.35 percent of the annual budget allocated for the current fiscal year.

The government had announced a budget of Rs 1751.31 billion in the current fiscal year.

The current expenditure of the government as of mid-May this year stands at 65.91 percent of the annual budget. Under this heading, the government had allocated a budget of Rs 1141.78 billion but has so far spent only Rs 752.55 billion.

Similarly, the government has allocated a budget of Rs 302.7 billion under the heading of capital expenditure.

As of mid-May, the government has spent only Rs 111.88 billion allocated as capital expenditure which is 37.04 percent of the target.

Likewise, the government has spent 62.6 percent of the budget under the heading of financial management. The government had allocated Rs 307.45 billion under this heading out of which it has spent Rs 192.45 billion as of mid-May.

The total revenue collected by the government during the review period is 58.2 percent of the annual target. In the current fiscal year, the government had set a target to raise revenue of Rs 1472.48 billion. As of mid-May, the government has collected revenue of Rs 857.28 billion.

In terms of tax revenue, the annual target is to collect Rs 1305.47 billion but the government has so far collected Rs 746.83 billion which is 57.21 percent of the target.

Towards non-tax revenue, the government had set a target to collect Rs 117.62 billion out of which it has collected Rs 85.10 billion which is 72.7 percent of the target.

The government had set a target of receiving foreign grants of Rs 49.94 billion in the current fiscal year but has achieved only 5.52 percent of the target, i.e. Rs 2.75 billion.