Monday, May 18, 2009

Record revenue collected

The government has been blamed for not being able to spend on development activities, but it has exceeded its own target and set another record in revenue collection.
By end of Baishakh (mid-April to mid March) -- the 10th month of this fiscal year -- the finance ministry has collected Rs 110.51 billion, surpassing its target for the month that was Rs 103.5 billion.
During the same period last fiscal year, the government was able to collect Rs 79 billion. "Revenue collection exceeded 40 per cent in comparison to the last fiscal year's same period," according to the finance ministry. At the end of ninth month, the revenue collection target has exceeded its own target and collected 39.3 per cent higher revenue up to Rs 98.67 billion against Rs 70.85 billion collected last Chaitra.
When finance minister Dr Baburam Bhattarai presented his first budget of Rs 236.15 billion for the fiscal year 2008-09 on September 19, the revenue target of the budget was termed ambitious. He had set a revenue target of Rs 147.72 billion.
The encouraging collection of revenue is attributed the rise in revenue collection to the seriousness of the leadership, reduction in malpractices and discrepancies, and the good relationship between the government and private sector.

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