Govt nets Rs 58.6 billion revenue in five months

KATHMANDU: The government collected revenue Rs 58.60 billion in the first five months of the fiscal year 2009-10.

It is a 36 per cent growth compared to the same period last year.

This amount is more than the target, the Ministry of Finance (MoF) said. MoF has a target to collect revenue Rs 54.86 billion in the

period, from July 16 to December 15, 2009. Mof collected 43 billion in the same period of last year.

Last week, MoF collected Rs 2 billion despite hurdles in financial and industrial sectors. The collection was Rs 56.54 billion till the third week of Mangsir (mid-November to mid-December). “MoF is expecting good revenue growth in coming days,” said Krishna Hari Baskota, secretary.

MoF is planning to expand the revenue base and target for next year. In a press meet last month, Finance Minister Surendra Pandey had said next year’s revenue target will be significantly more than this year’s.

“We can achieve a good target next year if things are planned properly,” said Baskota. However, he did not disclose the target.