Tag: Target

  • Government Utilizes 10.2% of Development Capital Amidst Sluggish Revenue Collection

    Government Utilizes 10.2% of Development Capital Amidst Sluggish Revenue Collection


    As the current fiscal year reaches its midway point with four and a half months passed, the government’s utilization of its development capital remains relatively modest at 10.2%. According to the Financial Comptroller General Office, the government has disbursed Rs 30.27 arba for the ongoing fiscal year, with an additional Rs 3.20 kharba allocated for previous expenditures.

    In the initial four and a half months of the fiscal year, the total government expenditure has reached 20.75%, totaling Rs 3.63 kharba. A noteworthy aspect is that 24.4% of this expenditure has been directed towards current expenses, covering salaries, allowances, and administrative costs for employees.

    Simultaneously, the government’s revenue collection has demonstrated sluggish performance, achieving only 20.66% of the targeted revenue during this period. The detailed breakdown indicates that 20.77% is derived from tax income, while non-tax income contributes 19.49%.

    The government’s revenue collection goal for the current financial year is set at Rs. 14.22 kharba. However, the current figure stands at Rs. 3.12 kharba, resulting in the government’s expenditures surpassing its income by Rs 50.61 arba.

  • “Inland Revenue Department (IRD) Falls Short of Revenue Target, Collecting Rs. 4 Kharba 80 Arba in Last Fiscal Year”

    “Inland Revenue Department (IRD) Falls Short of Revenue Target, Collecting Rs. 4 Kharba 80 Arba in Last Fiscal Year”


    The Inland Revenue Department (IRD) faced a shortfall in revenue collection for the last fiscal year, collecting a total of Rs. 4 Kharba 80 Arba. This amount fell 23 percent below the target set at Rs. 6 Kharba 26 Arba. Furthermore, the revenue collected was Rs. 3 Arba less than the previous year’s collection (2078/79).

    Throughout the fiscal year, the department struggled to meet its revenue targets. Even in the month of Ashad, revenue collection fell short compared to the previous year, with only Rs. 72 Arba collected as opposed to the previous year’s Rs. 73 Arba.

    By the end of Jestha, the department had collected Rs. 4 Kharba 8 Arba, falling short by Rs. 2 Arba compared to the previous fiscal year. Despite this, it was significantly below the revenue target set for the year.

    The lower revenue collection was primarily attributed to reduced earnings from banks, financial institutions, alcohol, and automobile dealers compared to the previous year. The department faced challenges in meeting revenue targets since the month of Shrawan, with each subsequent month falling short of the set targets.

    For instance, in Poush, the department collected only Rs. 71.31 Arba, which was far below the target of Rs. 1 Kharba 6 Arba. Similarly, in Chaitra, the collection amounted to only Rs. 55.2 Arba, while the target was set at Rs. 83.75 Arba.

    Overall, the Inland Revenue Department managed to collect approximately 77 percent of the targeted revenue, resulting in a shortfall of Rs. 3 Arba compared to the previous fiscal year’s collection.

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

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


     

    Kathmandu Metropolitan City (KMC) has been successful in collecting revenue amounting to Rs. 8 Arba during the 11 months of the current financial year. Dhruv Kafle, who heads the Revenue Department, mentioned that the collected amount of Rs. 8 Arba 29 crores 95 lakhs 59 thousand 278 came from internal income, revenue distribution, and internal subsidy. This figure represents 79 percent of the city’s revenue target.

    For the current year, the Metropolis had set a revenue target of Rs. 10 Arba 42 crores 95 lakhs. They have made significant progress in generating internal revenue, achieving 98.87 percent of the targeted amount from internal sources. Out of the revenue target of Rs. 4 Arba and 85 crores, the Metropolitan collected Rs. 4 Arba and 77 crores. This amount is one billion more than the previous year, as reported by the Revenue Department.

  • The government’s spending exceeds its revenue by Rs 1.56 Kharba.

    The government’s spending exceeds its revenue by Rs 1.56 Kharba.


     

    For the first eight months of the current fiscal year 2079/80, the government’s budget deficit exceeded Rs. 1.56 Kharba. By the end of Falgun, the government had spent 7.79 Kharba of its budget, but had only collected 6.22 Kharba in total revenue.

    Meanwhile, only 22.15% of capital expenditure (CAPEX) is used until the end of Falgun’s fiscal year 2079/80.

    The government’s capital expenditure is the money spent on the development of physical assets. In Nepal, the capital budget is funded by balancing domestic revenue after the recurrent budget, grants, and loans have been met. According to the Financial Comptroller General Office, only Rs. 84.25 Arba of the capital budget has been spent out of the targeted budget of Rs. 3.80 Kharba.

     

  • Prabhu Smart Fund Offers 255% Dividend Yield in 10 Years

    Prabhu Smart Fund Offers 255% Dividend Yield in 10 Years


    The second plan of the Prabhu Capital Collective Investment Fund is now available for issue and sale as of 18 Falgun 2079. This fund issued 8 crore units worth Rs 80 crore at a fixed price of Rs 10 per unit.

    Prabhu Bank Ltd is the fund promoter of this plan, while Prabhu Capital Limited is the scheme manager. This is a closed-ended plan. This scheme will invest 35 to 90 percent of the proceeds from unit sales in shares, making it an equity-oriented scheme.

    Prabhu Bank Limited has obtained 1.12 crore units out of a total of 8 crore units available, while Prabhu Capital Limited has secured 8 lakh units.