The government’s revenue collection stood double of its expenditure in the first month of the current fiscal year 2024/25.
The records with the Financial Comptroller General Office (FCGO) show that the government collected Rs 96.95 billion in revenue during mid-July and mid-August this year. On the other hand, the total government expenditure was Rs 40.20 billion over the period. The expenditure amount was 2.16 percent of the annual target while the revenue collection was 6.59 percent.
Of the total expenses, the amount exhausted in recurrent expenditure was Rs 12.38 billion (1.09 percent) and that under the capital expenditure was Rs 8.55 billion (2.43 percent). Likewise, a total of Rs 19.27 billion was spent on debt servicing. For the current fiscal year, the government has allocated Rs 1.140 trillion under recurrent expenditure, Rs 352.35 billion under capital expenditure and Rs 367.28 billion under financial management.
Similarly, the government has set a target of revenue collection at Rs 1.419 trillion in FY 2024/25. Of the amount, Rs 1.284 trillion is projected from tax collection, Rs 135.09 billion from non-tax revenue and Rs 52.32 billion from foreign grants.
As of the first month of the current FY, the government did not receive any foreign grant. Out of the total revenue collected, tax revenue made up Rs 77.41 billion and non-tax revenue stood at Rs 17.33 billion in the review period.
