Bagmati Province Government Collects 41.40 Percent of Annual Revenue Target in Nine Months

Hetauda. The Bagmati Province government has collected 27.93 billion 30 million 2 thousand rupees, which is 41.40 percent of its annual target, in the first nine months of the current fiscal year.

Real estate registration (land revenue) and vehicle taxes are considered the main sources of revenue for the provincial government. According to Indra Raj Sanjyal, an officer at the Ministry of Internal Affairs and Planning of the Bagmati Province government, against the estimated revenue collection of 30.89 billion 11 million 89 thousand rupees from these sources and allocations from Shrawan to Chaitra of the fiscal year 2082/83, 17.01 billion 2 million 63 thousand rupees, or 55.07 percent of the target, has been collected. 

According to him, in the current fiscal year 2082/83, against the target of collecting 7.70 billion rupees from real estate registration, 3.52 billion 62 million 53 thousand rupees has been collected in nine months.

Similarly, under the vehicle tax heading, which includes vehicle inspection, route permits, and driver's license distribution and renewal, the provincial government has collected 5.06 billion 52 million 62 thousand rupees against the estimate of 8.25 billion rupees for the fiscal year 2082/83.

The provincial government estimated receiving 8.79 billion 86 million 67 thousand rupees from Value Added Tax (VAT) allocations, of which 5.69 billion 6 million 72 thousand rupees has been collected during this period. The ministry stated that 1.99 billion 15 million 56 thousand rupees has been received against the estimate of 4.03 billion 79 million 9 thousand rupees from excise duty.

Similarly, under the equalization grant received from the federal government, 7.94 billion 27 million 56 thousand rupees, or 53.60 percent of the estimated 14.81 billion 93 million rupees, has been received in nine months, said officer Sanjyal. 

The ministry stated that against the estimate of receiving 4.77 billion 74 million 25 thousand rupees from the provincial government's internal sources in the current fiscal year, 2.85 billion 81 million 56 thousand rupees, or 59.83 percent of the target, has been received in nine months.

It has been reported that the expected revenue collection could not be achieved due to reasons including a decline in real estate and new vehicle transactions caused by economic liquidity, and damages to various provincial government revenue collection agencies during the protests on Bhadra 23 and 24.