Revenue mobilisation looks up

The government has been successful in mobilising Rs 19.14 billion revenue in the first month (mid-July to mid-August) – which is 27.54 per cent compared to the same months – of the current fiscal year.

“The government had mobilised Rs 15.1 billion in the same month of the last fiscal year,” said finance secretary Krishna Hari Baskota.

Due to lack of full-fledged budget, the Finance Ministry has not set a formal revenue target for the current fiscal year. “But for the internal displine, the ministry has set 18 per cent revenue growth target,” he said, adding that the revenue exceeded Rs 1.45 billion the unofficial target.

The government mobilised Rs 7.93 billion VAT in the first month of the current fiscal year, followed by Rs 3.94 billion customs, Rs 3.30 billion income tax, Rs 2.50 billion excise, Rs 891 million under non-tax revenue and Rs 567.09 million under registration and vehicle tax.

“However, registration and vehicle tax revenue mobilisation has come down,” Baskota said, “Revenue mobilisation from registration and vehicle tax reduced to Rs 567.09 million from Rs 588.45 million in the same period last fiscal yeardue to slowdown in the transaction of land and real estate business.”