Finance Ministry to set revenue target soon

KATHMANDU, NOV 22: 

The Finance Ministry is planning to set the revenue mobilisation target for the current fiscal year.

In a meeting held at the ministry here today, finance secretary Shanta Raj Subedi said that the ministry will set the revenue mobilisation target and send it to each department soon. The first three months of the current fiscal year has recorded Rs 57.42 billion revenue mobilisation, which is an increment of 31 per cent as compared to the same period of the last fiscal. 

Though the government has not brought any changes in its revenue policy in yesterday’s special budget, if the current trend continues, it will help mobilise over Rs 315 billion by the end of the current fiscal year.

Likewise, the secretary also directed officials to address complaints by service seekers against revenue offices for a better revenue administration.

Subedi also directed officials to review the progress of the public enterprises Board and start a status analysis process of privatised public enterprises.

The government should restrain and maintain financial discipline and should not exceed expenditure as compared to the previous fiscal year, he said, adding that the government has to earmark a budget for election, integration of combatants, expansion of valley’s roads, and load-shedding reduction programme which the special budget mentioned yesterday.

“It is a challenge to manage the budget in an effective manner,” he told the officials. “On one hand, there is limitation of expenditure and on the other, the ministry has to earmark a budget for mega projects that will make the ministry’s job tougher.”

Source: THT