34% Increase in Govt Revenue ? – Ravi

The government is  not achieving its  expected  revenue due to  VAT debacle . However, Minister of Finance,  Ravi Karunanayake  said the government was able to increase the government’s revenue by 34% through the Inland Revenue department. He said the Excise revenue has increased by 6 percent.

He said the Customs revenue has increased by 29% by June this year.

Further he said, the government expects the Customs revenue to be 1200 billion rupees but it is receiving only 853 billion rupees. Accordingly, he said the government is introducing new methods.

He said it is positive and  the government has increased its revenue by 34 per cent from last year.