Tuesday, April 17, 2012

Revenue mobilisation stares at shortfall

Revenue mobilisation has still been staring at shortfall by the end of third quarter of the current fiscal year due to lackluster performance of Nepal Oil Corporation and Nepal Electricity Authority coupled with drop in vehicle imports and registration.
"However, the shortfall has come down to Rs 2.22 billion by the end of nine months of the current fiscal year from a month earlier's Rs 3.99 billion," said finance secretary Krishnahari Baskota.
The government has been able to mobilise Rs 172.90 billion revenue by the end of Chaitra (mid-April). "The revenue mobilisation must go above 20 per cent to meet the target of the current fiscal year," he said, adding that the revenue mobilisation has seen, however, only 18.1 per cent growth.
On the monthly basis, the ninth month has exceeded the target. "The target for Chaitra was Rs 25.86 billion but we have been able to collect Rs 27.62 billion," the finance secretary said, adding that the customs, VAT and Income tax exceeded the target but excise, registration, vehicle tax and non-tax could not meet the target hitting the government revenue target.
As usual the VAT tops the revenue mobilisation with Rs 52.92 billion followed by Income tax with Rs 36.84 billion and customs with Rs 29.93 billion.
Similarly, the government development spending has also not been improved as it stood at 34.1 per cent to Rs 24.78 billion on cash basis of the total capital budget of Rs 72.61 billion.

1 comment:

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