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Revenue Collection Increases 67 %

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Revenue Collection Increases 67 %
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November 28: The total revenue collection has increased by 66.7 per cent to Rs 126 billion in the first quarter of the current FY. The total revenue had decreased by 10.2 per cent during the first quarter of the last FY. A significant growth in value added tax, custom and excise duty led the revenue collection to the new height during the review period.

According to the NRB statistics, the VAT collection which sunk by 16.4 per cent during the first quarter of the last FY has increased by 60.1 per cent in the first three months of the current FY. In the first quarter of the current FY, a total of Rs 37.74 billion VAT was collected which is 29.7 per cent of the total revenue. As per the details, a total of Rs 27.56 billion custom charge was collected. Similarly, the vehicle tax that decreased by 37.9 per cent during the last FY increased by 66.5 per cent during this current FY.

Meanwhile, the government expenses increased by 92.7 per cent to Rs 95.16 billion in the first quarter of the current FY. The expenses had decreased by 10.6 per cent during the first quarter of the last FY. In the review period, the current expenses of the government reached Rs 86.79 billion from Rs 41.7 billion of the last FY. The government expenditure increased due to the raise made in employees' salary and social security allowances by the government through the budget speech.

Similarly, capital expenditure of the government has amounted to Rs 7.21 billion in the review period. During the last FY, such expenditure was Rs 2.87 billion. 

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