Kathmandu, September 27 :

Revenue collection by the government until September 16 in the current fiscal year has increased by 22.31 per cent compared to the same period in the previous fiscal.

Government institutions have collected over Rs 10.75 billion in the same period.

Under the tax revenue bracket, over Rs 9.62 billion has been recovered. Similarly, under the non-tax revenue head, over Rs 1.13 billion has been recovered, as per the statement issued by the ministry of finance (MoF) today.

Of the total revenue collection, the share of tax revenue comes to be 89.47 per cent and non-tax revenue stands at 10.52 per cent.

During the second month of the current fiscal year 2006-07, Nepal Rastra Bank (NRB) has released over Rs 13.77 billion.

Of the total released money, over Rs 11.97 billion has gone under regular expenditure while Rs. 810 million has been released under capital (development) expenditure, says a press statement from MoF.

Similarly, over Rs 980 million has been released for principal payment.

The released amount of the central bank comes to be over 13.75 per cent, compared to last year during the same period.

MoF says that of the total released money, over Rs 7.13 billion has been spent under regular expenditure headings while under the development headings, over Rs 470 million has been spent. In total, amount of expenses comes to be over Rs 8.02 billion which is an increment by 40 per cent in this current fiscal until September 16 under different headings.

Until eleven months in fiscal year 2005-06, revenue collection by the government was found to be hopeless despite the estimations of 14 per cent growth rate. During the eleven moths of 2005-06, revenue growth stood only at 0.5 per cent because of the inability of the government machineries to mobilise tax resources.