KATHMANDU: Nepal’s revenue collection saw a notable rise in the fiscal year 2024/25 compared to the previous year, according to data released by the Ministry of Finance.

The government collected Rs 1.178 trillion in total revenue during the year, which is Rs 120 billion more than the Rs 1.058 trillion collected in FY 2023/24. This marks a year-on-year growth of 11.33 percent.

Initially, the government had set a revenue collection target of Rs 1.419 trillion for FY 2024/25. However, during the mid-year review, this target was revised down to Rs 1.286 trillion.

Despite the downward revision, the government managed to achieve 91.60 percent of the revised target.

Uttarkumar Khatri, head of the Revenue Division at the Ministry of Finance, described the collection performance as encouraging, especially in the face of domestic and global challenges.

He stated that despite natural disasters and difficult international economic conditions, the country succeeded in surpassing the revenue collected in the previous year.

“We have already begun preparations to meet the revenue target for the current fiscal year,” he said, adding that the government is determined to move forward with improved efforts.

For the current fiscal year 2025/26, the government has set a revenue collection goal of Rs 1.315 trillion.

Reviewing revenue performance over the past decade, Nepal collected Rs 405 billion in FY 2014/15, Rs 481 billion in 2015/16, Rs 609 billion in 2016/17, Rs 726 billion in 2017/18, and Rs 829 billion in 2018/19.

The following years showed mixed results: Rs 793 billion in 2019/20, Rs 935 billion in 2020/21, Rs 1.066 trillion in 2021/22, Rs 957 billion in 2022/23, and Rs 1.058 trillion in 2023/24.

These figures highlight a general upward trend in revenue collection, reflecting both growth in economic activities and improved tax administration, although fluctuations remain due to internal and external factors.