Bagmati Province collected more than Rs 11.59 billion in revenue during the first four months of the current fiscal year 2082/83 BS, achieving 17.18 percent of its annual target, according to the Ministry of Internal Affairs and Planning.
The province had set a revenue target of Rs 30.891 billion for this fiscal year. Of that, Rs 6.936 billion-22.45 percent of the target-was raised between Shrawan and Kartik (mid-August to mid-November), said Suraj Paudel, the ministry’s Public Information Officer.
Land and house registration remained a key revenue source, generating Rs 1.237 billion, or 16.7 percent of the annual target. Vehicle tax collection reached Rs 2.411 billion, accounting for 28.2 percent of the target.
Other major contributors included Rs 2.495 billion from Value Added Tax (VAT) and Rs 843.6 million from excise duty.
Paudel added that the province received Rs 3.463 billion-23.37 percent of the estimated amount-from the federal government’s equalization grant. Revenue from internal sources amounted to Rs 1.132 billion, or 23.70 percent of the annual target during the review period.
