Federal government faces a revenue deficit of Rs 90 billion in the first half
Kathmandu, Jan. 19 -- Government revenues took a tumble in the first half of fiscal 2019-20 due to reduced imports of key revenue generating items and slackened domestic economic activities.
The income deficit reached around Rs90 billion as of mid-January, according to the Department of Customs and Inland Revenue Department. Most of the shortfall has been attributed to a decline in revenue growth at the customs offices.
According to the Customs Department, it received only Rs180 billion against the target of Rs244 billion, resulting in a deficit of Rs64 billion. Revenue collection by revenue offices also witnessed a deficit of Rs26.31 billion compared to the target.
According to the Inland Revenue Department, it had aimed to collect Rs...
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