Nepal’s GDP Rises to Rs 6.1 Trillion with Moderate Growth in FY 2024/25

Nepal’s economy grew by 4.61 percent in the previous fiscal year (FY 2024/25), reaching an estimated size of around Rs 6,107.22 billion, according to the Annual Report unveiled by the Ministry of Finance on Tuesday.

The report stated that the government spent 81.33 percent, or Rs 1,512.98 billion, of the total appropriated budget of Rs 1,860.30 billion in the last fiscal year.

The government spent Rs 956.36 billion, or 83.84 percent, of the allocated budget of Rs 1,140.67 billion under recurrent expenditure.

Similarly, it spent Rs 223.94 billion, or 63.56 percent, of the Rs 352.35 billion allocated for capital expenditure.

Under financial management, the government used Rs 332.67 billion, or 90.58 percent, of the Rs 367.28 billion allocation, the report stated.

In the last fiscal year, the government’s total revenue collection stood at Rs 1,196.19 billion. Of this, tax revenue amounted to Rs 1,049.87 billion, non-tax revenue Rs 128.94 billion, and other receipts Rs 17.37 billion.

The government achieved around 84.28 percent of its on-budget revenue collection target of Rs 1,419.30 billion, according to the ministry. -- RSS