Slow growth in revenue collection and Govt. expenditure

The government registered a meager growth of 6.9 percent in revenue collection, much lower than its budgetary target of 15 percent during first four months of this fiscal year thanks to the unfavorable economic and business activities.

A press release issued by the Finance Ministry said that the government mobilized revenue amounting to Rs 17.89 billion. Of the total, Rs 15.57 billion was raised as tax and Rs 2.31 billion as non-tax revenue.

The government's expenditure went on a slow pace with a growth rate of just 6.6 percent.

The total expenditure stood at Rs 21.12 billion during the period. The government spent Rs 17.15 billion under the recurrent expenditures, Rs 2.18 billion under the capital expenditures and used Rs 1.77 billion for repaying its debt principal.

To fund the government's budgetary programs, Nepal Rastra Bank (NRB) released Rs 26.54 billion during the period, which included Rs 21.47 billion under recurrent expenditures, Rs 3.09 billion under the capital expenditures, and Rs 1.98 billion for debt servicing. nepalnews.com pb Nov 23 05