Revenue Collection Increases in Current Fiscal Year

Kathmandu. Revenue collection has increased in the current fiscal year 2082/83. According to the details published by the Office of the Comptroller General, revenue collection has increased until June 26, before the end of the fiscal year.

While 77.15 percent of the target was collected in revenue until June 26 of the previous fiscal year 2081/082, revenue collection has increased to about 80 percent this year. Last year, the government had set a revenue target of 14 kharba 71 arba 62 crore 95 lakh rupees, and collected 11 kharba 35 arba 30 crore 31 lakh rupees by June 26.

In the current fiscal year, a total target of 15 kharba 33 arba 44 crore 69 lakh rupees has been set, and by June 26 (Friday), 12 kharba 18 arba 89 crore 89 lakh rupees have been collected. Which is 79.49 percent of the target. 

Progress of Tax Revenue Approximately Equal, Non-Tax Decreased

Revenue collection, considered the main source of income for the government, appears to be almost equal, while non-tax revenue has decreased. Last fiscal year, a total target of 14 kharba 19 arba 30 crore 30 lakh rupees was set for revenue collection, and only 11 kharba 5 arba 77 crore 49 lakh rupees were collected during the review period. Which is 77.91 percent of the target. 

This shows an increase compared to the same period in the current fiscal year. The government had set a target to collect a total of 14 kharba 80 arba rupees in the current fiscal year, and has collected 11 kharba 81 arba 62 crore 76 lakh rupees (79.84 percent) so far.

Among these, tax revenue collected from the public and businesses, which is the highest tax, appears to be almost equal. During the review period of the current fiscal year, this tax is 80.6 percent. With a target of 13 kharba 25 arba 58 crore 39 lakh rupees, 10 kharba 68 arba 36 crore 24 lakh rupees have been collected in the current fiscal year, according to the auditor's office.

This tax was also collected at 77.99 percent last fiscal year, the office stated. Similarly, in the current fiscal year, only 73.35 percent of the target has been collected from non-tax revenue, including service fees and fines. A target of 1 kharba 54 arba 41 crore 61 lakh rupees was set for non-tax revenue, but only 1 kharba 13 arba 26 crore 52 lakh rupees have been collected. This is less compared to last fiscal year.

A target of 1 kharba 35 arba 9 crore 34 lakh rupees was set for non-tax revenue, and 1 kharba 4 arba 24 crore 50 lakh rupees have been collected. Which is 77.17 percent in terms of percentage.

Foreign Grants More Than Last Year Even Though Half of the Target

Even though foreign grant receipts are only half of the target in the current fiscal year, it has increased compared to last year. While only 42.19 percent of the target was received as foreign grants last fiscal year, 55.83 percent has been received in the current fiscal year.

The government had set a target of 53 arba 44 crore 69 lakh rupees in foreign grants for the current fiscal year, but by the last month of the year, only 29 arba 83 crore 89 lakh rupees have been received, the office stated. This is only 55.83 percent of the total target.

Last year, a total target of 52 arba 32 crore 65 lakh rupees was set for foreign grants, and only 22 arba 7 crore 87 lakh rupees were received. Which was only 42.19 percent of the target.