Bagmati Province Collects 36.29% of Annual Revenue Target in First Eight Months of FY 2082/83

Hetauda. The Bagmati Province government has collected NPR 24.49 billion two million eighty-seven thousand in revenue in the first eight months of the current fiscal year 2082/83, achieving 36.29 percent of the annual target.

Revenue collection from land registration (Malpot) and vehicle tax are considered the main sources of income for the provincial government. Suraj Poudel, an officer at the Ministry of Home Affairs and Planning Development of the Bagmati Province government, informed that compared to the targeted revenue collection of NPR 30.89 billion eleven million eighty-nine thousand from July to February of FY 2082/83, NPR 13.93 billion ninety-seven million fifteen thousand, which is 45.13 percent, has been collected.

According to him, against a target of NPR 7.70 billion in revenue from land registration for FY 2082/83, NPR 2.56 billion two million four thousand has been collected in the first eight months of the current fiscal year.

Similarly, against a target of NPR 8.25 billion from vehicle tax under vehicle inspection, route permit, driver's license distribution, and renewal for FY 2082/83, the provincial government has only collected NPR 4.44 billion ninety-three million forty thousand in revenue.

The ministry stated that against an estimated NPR 8.79 billion eighty-six lakh sixty-seven thousand expected from Value Added Tax (VAT) allocation, NPR 5.04 billion sixty-five lakh seventeen thousand was collected by that period, while against an estimated NPR 4.03 billion seventy-nine lakh nine thousand from excise duty, NPR 1.75 billion three lakh thirty-six thousand was received.

Furthermore, Officer Poudel stated that against an estimated NPR 14.81 billion ninety-three lakh to be received under equalization grant from the federal government, 53.60 percent, or NPR 7.94 billion twenty-seven lakh fifty-six thousand, was received in the eight-month period.

The ministry also reported that against an estimated NPR 4.77 billion seventy-four lakh twenty-five thousand to be received from the province government's internal sources in the current FY 2082/83, 52.35 percent of the target, or NPR 2.50 billion twelve lakh eighteen thousand, was received in the eight months.

He attributed the less-than-expected revenue collection to factors such as the decline in land and new vehicle purchase-sale transactions due to economic liquidity, and damage sustained by various revenue collection bodies of the provincial government during the Jajani protests held on Bhadra 23 and 24 last year.