Revenue collection surges 12pc in 8 months

Revenue collection has rebounded sharply from the slump seen during the interim government’s final months, registering a 12 per cent growth in the first eight months of the ongoing fiscal year.

The National Board of Revenue (NBR) released the latest data on Wednesday, showing total revenue collection of Tk 2.54 trillion in July–February, compared with Tk 2.26 trillion in the same period last year.

The collection target for February was Tk 3.25 trillion, leaving a shortfall of nearly Tk 0.71 trillion.

The revenue authorities recorded double-digit growth in all months except October, January, and February, pushing the average growth in July–February to 12.36 per cent.

Single-month growth peaked in July at 24.61 per cent, followed by 18.03 per cent in August and 20.15 per cent in September.

This contributed to a 20.80 per cent rise in revenue in the first quarter compared with the previous fiscal year.

Growth slowed sharply to 3.31 per cent in October.

Although November and December returned to double-digit gains -- 15.41 per cent and 11.45 per cent respectively -- January again showed weak expansion, with February indicating some recovery yet remaining in single digits.

The previous fiscal year had been disrupted by quota protests, mass uprisings, and a change in government, which had frozen economic activity and suppressed revenue collection.

The government now aims to collect Tk 5.03 trillion via NBR in the ongoing fiscal year, up from the budgeted Tk 4.99 trillion.

Including other sources, the total revenue target stands at Tk 5.64 trillion, equivalent to 9 per cent of GDP, with Tk 0.65 trillion expected from non-NBR sources.