The government's revenue collection in the fiscal 2002-'03 phenomenally increased and crossed the target of Tk 23,750 crore by Taka 15 crore to a total of Tk 23,765 crore.

Revenue collection rose by Tk 3,541 crore in the last fiscal compared to its previous fiscal year's (2001-02) collection. There was a net rise of 18 per cent in the collection in 2002-'03, according to official sources.

The National Board of Revenue (NBR) disclosed the figures in a press statement yesterday pointing

out that the target over-run may further grow when final revenue assessment will be closed at the end of this month.

It said the increase occurred all the more in VAT collection. On the other hand, collection from income tax rose by Tk 583 crore during the year, although it lagged behind its total target of Taka 4,788 crore.

But collection from import duty surpassed the target by Tk 258 crore to a total of Tk 12,073 crore.

Giving further break-up, the NBR said target in VAT collection was Tk 6,831 crore but actual real-

ization exceeded the target by Taka 259 crore to a total of Tk 7,090 crore.

Collection from other sources fell behind targets. Their target was Tk 316 crore but realization stood at Tk 230 crore with a shortfall of Tk 86 crore.

Referring to an outstanding of Tk 1500 crore which remained in default with various organizations, the NBR said the government's total revenue collection would have gone up further if those money were received in the last fiscal.