By; Our Reporter
Government has set a higher revenue collection target in the 2018/2019 financial year.
According to the budget framework, tabled by the State Minister for Finance, David Bahati before parliament last week government estimates to collect Shillings 15.547 trillion in the 2018/2019 financial year from domestic sources. Shillings 15.1 trillion is expected to come from tax revenue while Shillings 418 billion is expected from non-tax revenue.
The domestic revenue target is an increase from Shillings 15.062 trillion in the current 2017/2018 financial year budget. Out of this Shillings 14.6 trillion is tax revenue while Shillings 376 billion is non-tax revenue.
The proposed budget focuses on improving productivity in the primary growth sectors like agriculture, manufacturing or industry, tourism and minerals to drive faster growth of the economy, addressing infrastructure deficits and other private sector constraints.
The other sector priorities are health, information and communication technology, energy and minerals among others.
According to the proposed allocations, the Works and Transport sector will get the lion’s share of Shillings 4.7 trillion, government repayment of interest will take Shillings 2.7 trillion, the Energy and Mineral Development will come third with Shillings 2.5 trillion up from Shillings 2.3 trillion.
The education sector will bag Shillings 2.4 trillion from 2.5 trillion while the health sector will also suffer a budget cut from Shillings 1.8 trillion this financial year to Shillings 1.6 trillion in the next financial year.
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