Kathmandu Metropolis Exceeds Rs. 8 Arba Revenue, Reaching 79% of Target

Kathmandu Metropolitan City (KMC) has successfully collected revenue amounting to Rs. 8 Arba during the 11 months of the current financial year. Dhruv Kafle, Head of the Revenue Department, was quoted as stating that Rs. 8 Arba 29 crores 95 lakhs 59 thousand 278 was collected through internal income, revenue distribution, and internal subsidy. This figure represents 79 percent of the city's revenue target.

The Metropolis had set a revenue target of Rs. 10 Arba 42 crores 95 lakhs for the current year, with significant progress made in internal revenue. The Metropolitan achieved 98.87 percent of the targeted revenue from internal sources, collecting Rs. 4 Arba and 77 crores out of the revenue target of Rs. 4 Arba and 85 crores. This amount is one billion more than the previous year, as reported by the department.

During the fiscal year 2078/79, the Metropolis collected only Rs. 3 Arba and 72 crores in internal revenue. KMC generated Rs. 1 Arba 92 crores 12 lakhs and 80 from house maintenance tax as part of its internal income.

In the current year, the Metropolis aimed to raise Rs. 2 Arba under this revenue category. Additionally, property tax revenue amounted to 91 crore 33 lakh rupees, which is Rs. 12 crores more than the previous year.

However, the revenue received through distribution to the Metropolis has been affected in reaching the revenue target. The Metropolis collected Rs. 1 Arba 55 crores 89 lakhs from revenue distribution, indicating a decrease of approximately Rs. 1 Arba compared to the previous year. In the fiscal year 2078/79, the revenue received from distribution amounted to Rs. 1 Arba 75 crores 54 lakhs, which was 106 percent of the target. This time, only 45 percent of the target has been allocated to the Metropolis.

Last year, the target for revenue from distribution was set at Rs. 2 Arba 59 crores 25 lakhs, but by the end of Jestha, Rs. 2 Arba 75 crores 54 lakhs, or 106 percent, had been received. However, in the current year, only Rs. 1 Arba 55 crores 89 lakhs has been raised, while the target was set at Rs. 3 Arba 41 crores 31 lakhs.

According to the revenue department of the Metropolitan City, the failure to meet the revenue collection target is primarily due to the lower amount received from revenue distribution. Dhruv Kafle, the head of the department, was quoted as explaining that although the Metropolis has collected sufficient internal revenue, the contribution from distribution is insufficient, hindering the achievement of the goal. The revenue department reported that the Metropolis has collected Rs. 1 Arba 96 crores 96 lakhs towards internal subsidies in the current year.

(Disclaimer: The article has been translated while retaining factual information.)