Friday, 18th April 2014

20.87 percent increase in revenue

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The Ministry of Finance has informed that the total revenue collected this fiscal year, until 29 November, is Rs 101.06 billion, an increase of 20.87 percent compared to the same period last year.

Organising a press meet in the capital on Monday, the ministry spokesperson, Ram Sharan Pudasaini, informed the press about the positive trend of revenue collection.

Pudasaini said that a taskforce has been formed to study non-revenue tax and effectiveness of revenue exemption, and their research is underway.

In the review period Rs 86.8 billion has been spent current expenditure, Rs 5.76 billion in capital expenditure and Rs 5.68 in fiscal management.

The ministry also informed that in the first four months of the fiscal year, memorandum of understanding for a total amount of Rs 21.45 billion, including Rs 7.35 billion grant assistance and Rs 14.10 billion loan assistance, has been signed.