KATHMANDU, Oct 25: The government mobilized 38 percent more revenue in the first three months of the current fiscal year compared to the same period of the last fiscal year.
Revenue collection in the first three months of Fiscal Year 2016/017 increased by 38 percent compared to the same period of the last fiscal year, the finance ministry said on Tuesday. The ministry claimed that it has exceeded the revenue collection target for the first three months.
"We have managed to collect Rs 41 billion up from the target of Rs 40 billion," the ministry claimed.
The government mobilized Rs 17.16 billion in income tax, Rs 14.56 billion in VAT and Rs 9.22 billion in excise, according to the ministry. Similarly, it collected Rs 173 million from education tax and Rs 241 million from health service tax.
Mobilization of education tax and health service tax was at 96 percent and 83 percent, respectively, of the target, the ministry added.