Govt successful in meeting 94.6 percent of revenue target in first ten months of current FY
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KATHMANDU, June 20 -- The government has been able to increase its revenue collection by 25.41 percent in the first ten months of this fiscal year, compared to the same period last fiscal, despite a massive fall in domestic economic activities due to the impacts of COVID-19.
According to the Ministry of Finance (MoF), the government collected revenue worth Rs 761 billion during mid-July 2020 and mid-May 2021, which was 94.6 percent of the targeted revenue collection for the current fiscal year. The notable rise in revenue collection has been attributed to surging rise in merchandised imports.
The MoF in its monthly economic bulletin has stated that the continuous rise in imports had led to an increase in collection of customs duty, valu...
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