Finance secretary
Shanta Raj Subedi expressed dissatisfaction on lower revenue mobilisation by
the end of six months of the current fiscal year.
Asking the revenue
officials to take serious measures to shore up revenue, he said that the the
failure to meet revenue mobilisation target has to be tackled as soon as
possible.
Though, the
revenue mobilisation has gone up by 20 per cent in the first half of the
current fiscal year 2013-14 compared to the same period last year, it has
failed to meet the target of the current fiscal year.
Addressing the Revenue Review Meeting today at the Finance Ministry, secretary said there is a challenge of meeting Rs 354 billion revenue mobilisation for the current fiscal year.
Addressing the Revenue Review Meeting today at the Finance Ministry, secretary said there is a challenge of meeting Rs 354 billion revenue mobilisation for the current fiscal year.
According to
the ministry, it has mobilised Rs 163 billion – up from Rs 135 billion of the first
half of last fiscal year – in the current fiscal year 2013-14.
Central bank
governor Dr Yuba Raj Khatiwada, on the occasion, cautioned the government
toward slower economic activities and consequent impact in revenue mobilisation
due to weak performance in capital spending and swelling liquidity in Bank and
Financial Institutions.
Likewise,
vice chair of National Planning Commission (NPC) Rabindra Kumar Shakya directed the
officials to take serious measures for driving up capital expenditure that
plays a key role in increasing revenue mobilisation.
He also suggested revenue
officials to make timely review on non-tax revenue rates.
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