BAGMATI, Nov 20: The Bagmati province government has raised revenue over Rs 11.59 billion or 17.18 percent of its annual target for the Fiscal Year (FY) 2025/26.
The land and house registration and vehicle tax are considered the major sources of revenue of the province government.
As it was estimated to collect revenue of Rs 30.891 billion in the FY 2025/26, around 22.45 percent of the target or 6.936 billion has been raised during the period from Shrawan (mid-August) to Kartik (mid-November), said Public Information Officer at the Internal Affairs and Planning Ministry of the Bagmati Province, Suraj Paudel.
Diversifying Government Revenue
Under the land and house registration category, Rs 1.237 billion or 16.7 percent of the annual target was collected.
Likewise, the provincial government has collected revenue of Rs 2.411 billion or 28.2 percent of the target under the vehicle tax heading during the reporting period, it is stated.
Other sources of revenue of the provincial government during the period included Rs 2.495 billion from Value Added Tax (VAT) and Rs 843.6 million from the excise duty, the ministry shared.
Information Officer Paudel further said that the province government received Rs 3.463 billion or 23.37 percent of the estimated revenue from the equalization grant of the federal government.
The provincial government has collected Rs 1.132 billion or 23.70 percent of the target under the internal sources during the reporting period of the FY 2025/26.
