Government missed revenue, spending targets
The government has missed its revenue target for the first four months of the current fiscal year, collecting just 77.49 percent of the planned amount. The government has set a target to raise Rs 1,480bn in fiscal year 2025/26 which began in mid-July. However, revenue collection by the end of the first four months stood at Rs 329.51bn, significantly below the target for the period. The government had aimed to mobilize Rs 425.23bn by mid-November.
The shortfall is particularly stark for the fourth month (mid-October to mid-November). Total collection during the period stood at Rs 78.33bn against the targeted Rs 103.7bn. Total revenue collection over the first four months of the current fiscal year, however, was marginally up compared to the same period of the previous fiscal year. According to the finance ministry, total revenue collection in these four months was up 6.53 percent compared to the same period of the last fiscal year when the government mobilized Rs 329.02bn.
Breakdown of the revenue data shows that customs duty remained the largest contributor to the government revenue. But mid-November, the government collected Rs 74.59bn from customs duty. Of this, imports generated Rs 60bn, exports brought in Rs 660 million, while infrastructure tax amounted to Rs 5.66bn. Other customs-related income included Rs 240 million in miscellaneous revenue, Rs 2.45bn in agriculture reform fees, Rs 3.75bn in road maintenance charges, and Rs 1.76bn in road construction and upgrade fees.
Value Added Tax (VAT) remained the government’s largest single revenue source in the revenue period, generating Rs 101.71bn in the first four months. VAT from domestic production, sales and services contributed Rs 44.92bn, while VAT from imports reached Rs 62.19bn. Excise collection reached Rs 62bn during the period. The government also mobilized Rs 2bn from education service fees and Rs 61.15bn in income tax. Non-tax revenue stood at Rs 1.27bn.
Despite the slight year-on-year growth, the inability to meet periodic targets has raised concerns about the government’s ability to achieve its ambitious annual revenue goal. Officials say sluggish imports, subdued economic activity and lower consumption continue to weigh on revenue performance.
The government missed its revenue target by nearly 17 percent in the previous fiscal year as well. Of the Rs 1,419bn it had aimed to collect, only Rs 1,178bn was raised, underscoring a continuing trend of underperformance in revenue mobilization.
The government has failed to meet targets on spending fronts as well. According to the Financial Comptroller General’s Office, government spending over the first four months of 2025/26 remained sluggish, with capital expenditure performing especially poorly. Of the total Rs 407.88bn allocated for capital spending this fiscal year, only Rs 25.62bn—just 6.28 percent of the target—had been utilized during the review period.
Overall treasury expenditure reached Rs 470.10bn, or 23.93 percent of the annual allocation. Recurrent spending stood at Rs 321.89bn, equivalent to 27.26 percent of the target, while financing expenditure, which is used to service public debt, amounted to Rs 122.58bn, or 32.67 percent of the target. The government met 81.87 percent of its spending targets in the previous fiscal year.
Gold price increases by Rs 2, 800 per tola on Wednesday
The price of gold has increased by Rs 2, 800 per tola in the domestic market on Wednesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 242, 300 per tola today. It was traded at Rs 239, 500 per tola on Tuesday.
Similarly, the silver is being traded at Rs 3, 150 per tola today.
Industrial fair in Butwal for promotion of domestic products
An industrial fair is being organized in Butwal in a bid to promote use of domestic products. The fair will be organized together with an agricultural and tourism festival from December 18.
The organizer of the event, Rupandehi Chamber of Commerce, shared this information amidst a press meet on Tuesday. The fair and festival would take place at the Modern Exhibition Place.
Chairman of the Chamber, Krishna Prasad Parajuli, informed that the fair has aimed at promoting the use of domestic industrial products. It is expected to protect and develop industries as a backbone of the national economy, he added.
He further said, "In addition to the exhibition of locally produced goods, the fair and festival feature new technology, art, culture, marketing of agriculture, tourism promotion, encouragement to youth entrepreneurs, self-entrepreneurship, and interaction."
There would be some 500 stalls in total, categorizing industrial technology, agriculture, handicraft, garment, bakery, leather shoes, food grains and information technology. It is the 16th fair in the series.
Nepse surges by 15. 70 points on Tuesday
The Nepal Stock Exchange (NEPSE) gained 15. 70 points to close at 2, 566. 07 points on Tuesday.
Similarly, the sensitive index surged by 2. 65 points to close at 443. 53 points.
A total of 9,255,457-unit shares of 345 companies were traded for Rs 4. 10 billion.
Meanwhile, Sagar Distillery Limited (SAGAR) and Mabilung Energy Limited (MABEL)
were the top gainers today, with their price surging by 10. 00 percent.
Likewise, Everest Bank Limited Debenture 2091 (EBLD91) was the top loser as its price fell by 3. 54 percent.
At the end of the day, total market capitalization stood at Rs 1. 45 trillion.
