KATHMANDU: The government has spent nearly 60 percent of its total budget in the first ten months of the current fiscal year up to May 14, according to the Office of the Financial Comptroller General.

Total government expenditure stood at Rs 1.173 trillion, against an annual budget of Rs 1.964 trillion, resulting in 59.75 percent utilization.

Of this, recurrent expenditure reached 68.98 percent, with Rs 814 billion spent out of an allocation of Rs 1.181 trillion.

Capital expenditure remained weak at 27.91 percent, with Rs 113 billion spent out of Rs 407 billion allocated, indicating slow progress in development projects.

Financial management expenditure stood at 65.30 percent, with Rs 245 billion spent out of Rs 375 billion allocated.

On the revenue side, the government collected about 66 percent of its annual target. Out of a total revenue target of Rs 1.533 trillion, it has collected Rs 1.012 trillion so far.

Tax revenue collection reached Rs 988 billion, or 66.69 percent of the Rs 1.480 trillion target over the ten-month period.

Foreign grants remain weak, with only 33.28 percent of the annual target achieved.

Out of Rs 53.44 billion expected, the government has received Rs 17.78 billion so far.