Bagmati Province collected 94.12 percent of its targeted revenue for the fiscal year 2081/82, according to the Ministry of Economic Affairs and Planning of the provincial government. The total revenue collection stood at NPR 60.74 billion against the target of NPR 64.54 billion.
Information Officer Indraraj Sanjyal of the ministry stated that the projected revenue included funds from revenue-sharing with the federal government, internal sources of the province, and grants received from the federal government.
Under revenue-sharing, the province had aimed to collect NPR 29.55 billion. However, it managed to collect only 83 percent of the target, amounting to NPR 24.53 billion. Similarly, from its internal sources, the provincial government had targeted a collection of NPR 4.53 billion but achieved 84.08 percent of that goal, collecting NPR 3.81 billion.
The province also expected to receive NPR 15.57 billion in grants from the federal government. Of this, only 76 percent — NPR 11.96 billion — was received.
In comparison, during the previous fiscal year 2080/81, Bagmati Province collected NPR 39.22 billion in total revenue. The projected revenue for that year was NPR 48.25 billion, indicating a significant shortfall.
Likewise, in FY 2079/80, the province also fell short of its revenue target by 17 percent. It had estimated revenue collection of NPR 55.31 billion but collected only NPR 45.88 billion.
According to Chief Accounts Controller Hari Prasad Upadhyaya of the Provincial Treasury and Comptroller Office, Hetauda, several factors contributed to the revenue shortfall. These included a decline in shared revenue from VAT, income tax, and fees from natural resource extraction and land registration. Additionally, the economic slowdown and federal government budget cuts for certain programs further impacted revenue collection.
