Revenue collection growth slows down

Though the government has been able to collect Rs 25.07 billion revenue in the second month of the current fiscal year, the growth rate has slowed down.
Compared with the second month (August 15-September 15) of fiscal year 2009-10, the growth rate stood at 11.2 per cent or Rs 2.52 billion more only. "However, the collection is 'satisfactory' in the absence of full-fledged budget," said the revenue secretary Krishnahari Baskota.
"Had the full-fledged budget come, the growth could have been remarkable," he said. In the same month in the fiscal year 2009-10, the collection stood at Rs 22.55 billion.
The government had collected Rs 13.16 billion revenue in the first month of the current fiscal year. The collection exceeded by Rs 1.46 billion or 12.1 per cent compared to the same period of 2009-10.
As usual, Value Added Tax (VAT) tops the list of the total revenue collection contributing Rs 10.75 billion, followed by customs (Rs 5.39 billion), excise (Rs 3.87 billion), income tax (Rs 3.40 billion) and registration, vehicle registration, non-tax and others (Rs 1.66 billion) to the national coffer.
"The contribution of the VAT -- in the second month -- to the national coffer comes to 43 per cent, customs to 21 per cent, excise 15 per cent, income tax 14 per cent and others seven per cent," said the Finance Ministry.
In the last fiscal year, the annual revenue collection growth rate was 26 per cent, that seems to be slowing down this fiscal year due to delay in the full-fledged budget.