NBR reports strong 12% growth over 8 months despite October, January, February slowdowns

Except for October, January, and February, the NBR has recorded double-digit growth in all other months of the current fiscal year

Revenue collection has rebounded sharply from the slump seen during the interim government’s final months, registering a 12 percent 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 percent.

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

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

Growth slowed sharply to 3.31 percent in October.

Although November and December returned to double-digit gains -- 15.41 percent and 11.45 percent 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 percent of GDP, with Tk 0.65 trillion expected from non-NBR sources.