The government’s financial performance in the first two months of the fiscal year 2024/25 demonstrates a positive trend in both revenue collection and expenditure management.
During this period, a total revenue of Rs. 169.51 billion was collected, representing 11.52% of the annual target of Rs. 1,471.62 billion. This includes Rs. 145.19 billion from tax revenue, which accounts for 11.31% of the annual tax target of Rs. 1,284.2 billion, and Rs. 21.19 billion from non-tax revenue, making up 15.69% of the non-tax target of Rs. 135.09 billion. Notably, this revenue collection reflects an increase from the same period last year when only Rs. 141 billion was collected, amounting to 9.92% of the annual target of Rs. 1,422.5 billion.
In terms of expenditures, the government spent Rs. 137.55 billion, which is 7.39% of the total budget of Rs. 1,860.30 billion. This has resulted in a budget surplus of Rs. 31.96 billion, indicating that revenue exceeded expenditures during this period.
When examining the breakdown of expenditures, capital expenditure reached Rs. 14.89 billion, representing just 4.23% of the allocated Rs. 352.35 billion. This is an improvement compared to the previous year, where only 2.7% was spent in the same period. Recurrent expenditure totaled Rs. 82.98 billion, accounting for 7.28% of the allocated Rs. 1,140.66 billion. Additionally, Rs. 39.67 billion was spent under financing, which is 10.8% of the total financing allocation of Rs. 367.2 billion.
On the grants front, no grants were received during the first two months, even though the government has set a target of Rs. 52.32 billion for the fiscal year. However, the government did receive Rs. 3.13 billion in other receipts during this period. Overall, the government appears to be on track to achieve its fiscal goals for the year, with improved revenue collection compared to last year and controlled spending leading to a surplus.
