Government Collects More than Twice in Revenue than its Expenditure in First Month of FY 2024/25

The government has collected more than twice in revenue than its expenditure in the first month (July 16 to August 16) of the current fiscal year, 2024/25.

The total revenue collection and expenditure in the period stood at around Rs 96.95 billion and Rs 40.2 billion, respectively, data from the Financial Comptroller General Office (FCGO) show. 

The revenue and expenditure amount represent 6.59% and 2.16 % of the target for the current fiscal year.

While the recurrent and capital expenditure amount to around Rs 12.38 billion and Rs 8.55 billion, Rs 19.27 billion has been spent on financing. 

The government aims to spend around Rs 352.35 billion as capital expenditure this fiscal year, which involves infrastructure development to generate the real capital. 

Similarly, Rs 77.41 billion in revenue has been collected through taxes, while the non-tax revenue in the period stands at Rs 17.33 billion, according to the FCGO. 

Despite increments in expenditure and revenue targets every year, government’s expenditure have always remained low. The government could spend only 63.47% of the capital budget last fiscal year. 

Sluggish expenditure for most of the year and rush spending at the eleventh hour have always affected the development projects, experts say.