Overall revenue collection increases

Despite the political turmoil and weak law and order situation, revenue collection has increased during the first quarter of current fiscal year.

The overall revenue collection during the first quarter of the current fiscal year has stood Rs. 63.7 billion and the amount was 22.47 percent more than last year's collection and well ahead of the budgetary target of 15 percent.

A press statement issued by Ministry of Finance said the total government cash expenditure during the period has also increased to Rs. 77 billion, which was 13.4 percent more than last year's expenditure and almost 60 percent of the total cash allocation for the current fiscal year.

Similarly, of the total expenditure, the government used Rs. 53.15 billion for the purpose of recurrent expenditure, which mainly finances salaries for government employees, security expenditure and expenses for maintaining law and order situation, the statement said.

According to the statement, the total capital expenditure during the period remained low at Rs. 15 billion.

Likewise, the government expended Rs. 8.83 billion in repaying principal of domestic as well as foreign loans.

The government has allocated Rs. 15.17 billion for the purpose of repaying principals of domestic and foreign loans for this current fiscal year.

The statement said Nepal Rastra Bank released a total Rs. 86.51 billion during the period. Of the total released amount, Rs. 53.39 billion was released under the recurrent expenditure while remaining Rs. 18 billion for capital expenditure and Rs. 9.06 billion for repaying principals of loans.