Revenue collection shoots up

Revenue collection shoots up
eKantipur.com, 25-Jun-07

Revenue collection increased by an impressive 20.77 percent in the first 11 months of the current fiscal year, even though the economy is yet to see a convincing revival.

The data released by Ministry of Finance shows that the government collected revenue amounting to Rs 71.28 billion during the period. During the period, the government spent around 61 billion rupees under the recurrent expenditures. It has earmarked around 83 billion rupees under the recurrent expenditure for the current fiscal year.

The government's development budget, however, has been progressing at a snail's pace. The government expended only Rs 20.62 billion under the capital expenditure. The government has appropriated Rs 44.97 billion under capital expenditure for this fiscal year.

On the repayment of loans, the government paid off Rs 14.37 billion as principal debt of both foreign and domestic loans during the period.

Over the period, over Rs 105 billion was released from the government's coffer, a steady 22.8 percent rise, as compared to the amount release in the same period last year. Of the total, Rs 67 billion was released under the recurrent expenditure and Rs 23 billion under the capital expenditure.