Government fails to meet revenue target in the first quarter of current fiscal year
By Our Reporter
The government has failed to meet the revenue target in the first three months of the current fiscal year.
According to the daily report of the Financial Comptroller General Office under the Ministry of Finance, the government collected revenue worth Rs. 248.2 billion in the first three months which is only 17.49 per cent of the annual target of Rs. 1419.30 billion.
Out of total revenue collected in the first three months, tax revenue stood at Rs. 219.68 billion which is 17.11 per cent of the annual target while nob-tax revenue reached Rs. 28.57 billion oe 21.15 per cent of the annual target.
The government has a target to collect Rs. 1284.2 under tax revenue and Rs. 135. 09 under non-tax revenue this fiscal year.
Likewise, the government spent only 8.34 per cent of the capital budget in the first three months of the current fiscal year. It spent only Rs. 29.37 billion capital budget in three months.
However, it is higher by 2.44 percentage point than the last year’s expenditure during the review period.
Likewise, the recurrent expenditure of the government stood at Rs. 229.84 billion which is 20.15 per cent of the target. The government has allocated Rs. 1140.66 billion under the heading of the recurrent expenditure.
