Revenue mobilisation up by Rs 63 billion

KATHMANDU, JANUARY 14: The country's revenue collection has exceeded expectations in the first six months of the current fiscal year. The Ministry of Finance collected Rs. 559 billion, which is Rs. 63 billion more than the same period last year, representing a 13% increase. The government had set a target of Rs. 141.9 billion for the entire fiscal year, and by the end of Poush (mid-January), it has already collected Rs. 567 billion, which is 40% of the annual target.

Despite challenges such as natural disasters, reduced fuel imports, and economic slowdown, the revenue collection for the first six months has been significantly higher than the target of Rs. 672 billion, reaching 84% of the goal.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel expressed satisfaction with the increased revenue collection compared to the previous year and stated that the government will continue to focus on meeting its revenue targets.

Mahesh Bhattarai, the spokesperson for the Ministry of Finance, attributed the strong revenue performance to various factors, including increased economic activity and efficient tax collection."