The government’s spending has exceeded its revenue up to the second quarter of the ongoing fiscal year 2024/25. Data from the Office of the Financial Comptroller General reveals that the government’s revenue was Rs 738 billion 821 million and 300 thousands, while spending reached Rs 839 billion and 356 million as of March 13. This indicates that the spending outstrips the government’s revenue by Rs 153.47 billion during the second quarter.
Similarly, the government’s capital expenditure has also demonstrated significant weakness in this timeframe. According to statistics from the Financial Comptroller General, the capital spending until March 13 accounts for merely 23.37 percent of the yearly budget. A sum of Rs 352 billion and 354 million has been designated for capital projects for the current financial year, yet only Rs 82 billion and 336 million has been utilized so far. The government set forth a budget of Rs 1 trillion 860 billion and 303 million for this fiscal year.
By mid-March, 45.12 percent of the total budget or Rs 839 billion and 356 million has been spent. Of the allocated Rs 1 trillion 140 billion 664 million and 500 thousand under the current expenditure head, 51.21 percent, equivalent to Rs 584 billion 127 million and 800 thousand, has been utilized. Out of the Rs 367.28 billion earmarked for financial management, 47.07 percent, or Rs 172.89 billion, has been expended.
The government has accrued 50.2 percent or Rs 738.82 billion in revenue against a target of Rs 1,471.62 billion for the current fiscal year. Out of this, Rs 1,284.20 billion has been allocated for tax revenue, with 49.74 percent or Rs 638.79 billion collected so far. Likewise, 60.36 percent or Rs 81.54 billion has been gathered against a target of Rs 135.93 billion for non-tax revenue.
The government’s mobilization of foreign grants is also notably weak; out of the goal of Rs 52.32 billion in foreign assistance for the current fiscal year, only 17.51 percent of the target, or Rs 9.16 billion, has been acquired to date.
