HETAUDA: Bagmati Province has collected 94.12 percent of the revenue target in the fiscal year 2081/82.

According to the Ministry of Economic Affairs and Planning of the Bagmati Province Government, 94.12 percent of the target, or Rs. 60 billion 747 million 777 thousand, has been collected under various headings in the fiscal year 2081/82.

Indraraj Sanjyal, Information Officer at the Ministry of Economic Affairs and Planning, informed that the provincial government is expected to collect Rs 64.54 billion, 431 thousand in revenue from revenue sharing, revenue collected from the provincial government’s internal sources, and grants received from the federal government in the fiscal year 2081/82. However, Rs 60.74 billion, 75.77 million were collected from all these heads.

According to him, the provincial government had set a target of collecting Rs 29.55 billion 8.9 million in revenue from revenue sharing in that fiscal year, but 83 percent of that, or Rs 24.53 billion 4.30 billion, has been collected.

Similarly, Information Officer Sanjyal said that out of the provincial government’s target of collecting revenue of Rs 4.53 billion 8.479 billion from internal sources, 84.08 percent of the target, or Rs 3.81 billion 5.821 billion, has been collected.

He said that out of the estimated Rs 15.57 billion 5.6 billion to be received as a grant from the federal government, 76 percent of it, i.e. Rs 11.96 billion 8.773 billion, has been received as a grant. In the last fiscal year 2080/81, Bagmati Province collected Rs 39.22 billion 12.47 million in revenue.

In the fiscal year 2080/81, it was estimated that Rs 48.25 billion 4.375 billion would be collected from revenue sharing, revenue collected from internal sources of the provincial government, and grants received from the federal government. However, Rs 39.22 billion 1.247 billion was collected from all these heads.

Similarly, in the fiscal year 2079/80, the Bagmati Provincial Government collected 17 percent less revenue than expected. The provincial government had estimated a revenue collection of Rs 55.31 billion in the fiscal year 2079/80, but collected Rs 45.88 billion.

Hari Prasad Upadhyay, Chief Accountant of the Provincial Treasury and Accounts Office, Hetauda, Makawanpur, informed that the revenue collection has fallen short of the target due to the decrease in revenue collection including value-added tax, income tax, natural resource extraction fees, land revenue, etc. distributed from the federal and local levels and the federal government cutting some programs due to the economic recession.