Kathmandu : Kathmandu Metropolitan City has collected eight billion rupees in revenue within 11 months of the current fiscal year. According to Dhruv Kafle, the Chief of Revenue Department, the revenue collection amounted to NPR 8,295,590,278. This amount represents 79% of the metropolitan’s revenue target of NPR 10,429,500,000. The majority of the revenue was generated from internal sources, including internal taxes, revenue sharing, and internal grants.
The internal revenue contributed 87% of the total revenue collection for the metropolitan. It reached NPR 4,850,000,000, surpassing the internal revenue target of NPR 4,770,000,000 by more than NPR 80,000,000. In the previous fiscal year 2078-79, the metropolitan had collected only NPR 3,720,000,000 as internal revenue. Therefore, there has been significant progress in internal revenue generation.
Regarding external revenue sources, the metropolitan collected NPR 920,120,800 from property taxes, exceeding the target of NPR 913,300,000 by NPR 6,820,800. It indicates a decrease compared to the previous fiscal year, which had seen an external revenue collection of NPR 1,250,540,000, constituting 75% of the revenue target.
The revenue from fines and penalties amounted to NPR 1,235,332,000, surpassing the target of NPR 1,091,300,000 by NPR 144,032,000. This shows an increase compared to the previous fiscal year, where the collection was NPR 754,540,000, representing 100% achievement of the target.
The revenue from other sources, including services and licenses, reached NPR 985,800,000, which was NPR 34,500,000 more than the target of NPR 951,300,000. In the previous fiscal year, the collection from these sources was NPR 582,500,000, indicating substantial growth.
The revenue department states that the increase in revenue collection has been effective in achieving the revenue target. The metropolitan received NPR 1,558,900,000 from revenue sharing, which is approximately NPR 100,000,000 less than the previous fiscal year.
According to the Revenue Department, the revenue collection from external sources, fines, and penalties fell short of the target. However, the department highlighted that the metropolitan has achieved the overall revenue target despite the shortfall. The revenue collection from external grants amounted to NPR 1,096,960,960 in the current fiscal year.
Dhruv Kafle, the head of the revenue department, mentioned that although the metropolitan has generated sufficient internal revenue, the shortfall from external sources has created a significant gap in achieving the revenue target. According to the department, the metropolitan received NPR 1,996,960,000 in external grants, contributing to the overall revenue collection.