KATHMANDU: The government has projected that there will be a shortfall of Rs 33 billion in its total revenue target collection of Rs 423 billion in this fiscal, as many enterprises suffered damages and were affected due to devastating earthquake of April 25 and powerful aftershocks. As a result of the damages to the businesses and slackness in the economic activities, revenue collection will be affected, said Nabaraj Bhandari, revenue secretary of the Ministry of Finance. Till the first 10 months of current fiscal, revenue collection stood at Rs 312.94 billion, against the target of Rs 329.31 billion. Bhandari further informed that the revenue collection target for the next fiscal will be also reviewed and lowered. Before the earthquake, resource committee — the committee led by the vice chairman of National Planning Commission — had set the target to generate revenue of Rs 513 billion in fiscal year 2015-16.
Revenue target to be reviewed
Published: 11:15 am Jun 09, 2015