Government has revenue of Rupees 469 billion in the First Quarter

November 24, 2024

Economy

Government has revenue of Rupees 469 billion in the First Quarter

August 13, 2018

Since the year 2017, a trimester report on the actual expenditure and revenue of the Government is submitted to Parliament. Accordingly, Rupees 403 billion has been incurred (except public debt financing) in the first quarter of the financial year 2018 and it is equivalent to 91% of the target expenditure in the quarter.

The Government has accumulated the revenue of Rupees 469 billion within the quarter and it consists of Rupees 425 billion from taxes and Rupees 44 billion from non-tax sources which amounts to 90.2% of the anticipated revenue within the quarter.

At the same time, 561 projects out of 1,354 operated in the first quarter of the year 2018 have achieved more than 75% of the physical progress against the target of the quarter and it has been reported that the physical progress of 444 projects is less than 25%.

As such, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance and Mass Me6dia, to table these information in Parliament, was approved by the Cabinet.