Govt revenue surpassed Rs.three trillion in 2023

Government revenue has surpassed three trillion rupees in 2023 for the first time in the history of the country.

The Government managed to earn Rs.3,115 billion in 2023, President’s Office State Revenue Unit Director General M.J.Gunasiri said.

He said this is the first time that the total revenue of the government has exceeded three trillion rupees.In addition to this, the Director General also said that the Government’s tax revenues have been able to meet the expenses other than the interest expenses from the Government’s day-to-day recurring expenses. Accordingly, after two and a half decades, it has been possible to record a balance in the primary account of Rs.52 billion rupees.

He said the Government earned Rs.2,752 billion as tax revenue, and 363 billion rupees as non-tax and principal income.

A breakdown of the income shows that the Inland Revenue Department had collected Rs.1,550 billion, Sri Lanka Customs Rs.970 billion and the Excise Department netted Rs.170 billion. The increase in revenue earned by the Motor Traffic Department, Immigration and Emigration Department also contributed to the increase in the overall income.

In 2022, the total revenue of the Government has been recorded as Rs. 2013 billion. Of this, Rs. 1,751 billion is tax revenue. The remaining amount of Rs.262 billion is the money received as non-tax and grants.

The Director General explained that while the Government’s revenue has increased, the Government’s expenditure has also increased to Rs.5,252 billion in 2023.

The post Govt revenue surpassed Rs.three trillion in 2023 appeared first on DailyNews.