Finance Minister hopeful of impressive economic growth rate

Birgunj, April 6: Finance Minister Barsha Man Pun has said country's economic growth rate will be impressive in the current fiscal year.     

At an interactive programme of the 'Birgunjko Bani' organized by Kantipur Media Group in Birgunj, Finance Minister Pun said that economic growth rate will be encouraging adding that the World Bank has also made a forecast of more than 3.5 per cent of economic growth rate this year. "We are hopeful of good economic growth though the economic growth rate will not be as per the announcements stated in the national budget," Pun said.     

As announced in the annual budget, the government has targeted the economic growth rate of 6 per cent in this fiscal year.     

Minister Pun shared that the capital expenditure has increased by almost 10 per cent after he took charge of the Finance Ministry. "The capital expenditure was only 23 per cent before I assumed the responsibility of the Finance Ministry but now the capital expenditure has crossed more than 30 per cent," he argued.     

The government has targeted to spend Rs 302 billion in capital expenditure in the current fiscal year but Rs 91.8 billion has been spent so far.     

He was of the view that capital expenditure has increased after the government released more than Rs 70 billion in the market. "The government has also made payment regularly. The government has taken the policy to make the market vibrant by maximum capital mobilization," the Finance Minister added.     

Likewise, Minister Pun pledged to join hands together with the industrialists and business communities.     

Also speaking at the programme, Revenue Secretary Ram Prasad Ghimire said overall revenue collection is not disappointing though it is not collected as expected.     

He added that revenue collection will improve after increased economic activities.     

Similarly, Governor of Nepal Rastra Bank Maha Prasad Adhikari said now domestic production should be increased adding that both the internal and external sectors of the economy have improved. (RSS)