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Government Revenue Up 19 %

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Government Revenue Up 19 %
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August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY which was 19.1 percent in the previous FY.

According to the NRB statistics, value added tax that grew by 11.3 percent in the previous FY has grown by 8.6 percent to Rs 122.07 billion in the last FY. However, the contribution of VAT in total revenue has decreased to 25.3 percent in the last FY from 27.7 percent of the previous FY. Meanwhile, the contribution of income tax in the total revenue during the last FY has significantly increased by 32.4 percent to Rs 117.13 billion which is 24.3 percent of the total revenue, slightly less than the VAT.

As per the details, the government has collected Rs 82.81 billion revenue through customs charges. In the last FY, the vehicle charge has increased by 13.8 percent which was 52 percent in the previous FY. 

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