KATHMANDU: The total foreign currency reserve has increased by 7.9 per
cent to Rs 474.16 billion during the first nine months of the current
fiscal year, according to the Nepal Rastra Bank (NRB).
Earlier, the foreign currency reserve was Rs 439.46 billion during the same period of the fiscal year 2068/069.
Of the total reserve, the NRB owns Rs 387.56 billion which is 3.2 percent more than of the last fiscal year.
Likewise, the reserve of Indian currency reached 64.52 billion with an increase by 6.8 percent against the same period of the last fiscal year.
According to the NRB, the reserve of the foreign exchange is sufficient to import goods and service of 9.2 months.
Similarly, the revenue mobilisation of the government during the review period has reached Rs 210.47 billion increasing by 22.3 per cent, thanks to rise in exports. The revenue mobilization was Rs 172.9 billion in the last fiscal year.
Likewise, value added tax (VAT) revenue has reached Rs 60.64 billion increasing by 15.7 per cent as compared to the last fiscal year.
During the review period, customs tax contributed Rs 41.64 billion which is more by nearly 39 percent than the review period of the last fiscal year.
According to the central bank, the income tax revenue has also increased by 31.1 percent contributing a total of Rs 48.26 billion due to reform in income tax administration and positive impact of taxpayer education.
Similarly, the excise duty revenue collection has reached Rs 26.19 billion during the review period contributing 20.5 percent increase than the same period of the last fiscal year.
However, the non-tax revenue has deceased to Rs 23.82 billion in the review period against Rs 25.25 billion of the same period of the last fiscal year, according to the NRB.
Source: The Himalayan Times, 14th May 2013
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Earlier, the foreign currency reserve was Rs 439.46 billion during the same period of the fiscal year 2068/069.
Of the total reserve, the NRB owns Rs 387.56 billion which is 3.2 percent more than of the last fiscal year.
Likewise, the reserve of Indian currency reached 64.52 billion with an increase by 6.8 percent against the same period of the last fiscal year.
According to the NRB, the reserve of the foreign exchange is sufficient to import goods and service of 9.2 months.
Similarly, the revenue mobilisation of the government during the review period has reached Rs 210.47 billion increasing by 22.3 per cent, thanks to rise in exports. The revenue mobilization was Rs 172.9 billion in the last fiscal year.
Likewise, value added tax (VAT) revenue has reached Rs 60.64 billion increasing by 15.7 per cent as compared to the last fiscal year.
During the review period, customs tax contributed Rs 41.64 billion which is more by nearly 39 percent than the review period of the last fiscal year.
According to the central bank, the income tax revenue has also increased by 31.1 percent contributing a total of Rs 48.26 billion due to reform in income tax administration and positive impact of taxpayer education.
Similarly, the excise duty revenue collection has reached Rs 26.19 billion during the review period contributing 20.5 percent increase than the same period of the last fiscal year.
However, the non-tax revenue has deceased to Rs 23.82 billion in the review period against Rs 25.25 billion of the same period of the last fiscal year, according to the NRB.
Source: The Himalayan Times, 14th May 2013
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Canadian Investors now in Nepal and looking to invest in Nepal
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