Record revenue collection

KATHMANDU: The government has been blamed for not being able to spend on development activities, but it has exceeded its own target and set another record in revenue collection.

By end of Baishakh (mid-April to mid March) — the 10th month of this fiscal year — the finance ministry has collected Rs 110.51 billion, surpassing its target for the month that was Rs 103.5 billion.

During the same period last fiscal year, the government was able to collect Rs 79 billion. “Revenue collection exceeded 40 per cent in comparison to the last fiscal year’s same period,” according to the finance ministry. At the end of the ninth month, the revenue collection exceeded its own target and 39.3 per cent more revenue up to Rs 98.67 billion was collected against Rs 70.85 billion last Chaitra.

When finance minister Dr Baburam Bhattarai presented a budget of Rs 236.15 billion for 2008-09, it was dubbed ambitious. He had set a revenue target of Rs 147.72 billion.