8% economic growth possible, budget needs to be augmented to achieve sustainable development: Finance Minister Dr Khatiwada

Finance Minister Dr Yubaraj Khatiwada has said it was possible for the country to achieve 8 percent economic growth rate in the coming fiscal year.

In response to the queries raised by the lawmakers on the appropriation bill, the Finance Minister argued, "If the government, private sector and cooperative made collective efforts, country could achieve the 8 percent growth rate next year." He reminded the lawmakers that the budget has given priority to the Tarai/Madhes by allocating over Rs 1 billion for creating physical infrastructures there.

He however said Nepal ranks top in the South Asia to receive foreign loan. The budget needs to be augmented to achieve sustainable development, according to him.

The amount of foreign loan could be increased till the accomplishment of the reconstruction of infrastructures damaged by the 2015 Earthquake. The loan would be utilized for national productivity and rapid development.

Meanwhile, lawmaker Dr Dila Sangraula, accused the government of bringing distributive budget intending cheap popularity.

Similarly, Prem Suwal questioned why government employees' salary was increased while the country was reeling under the compulsion of foreign loan.

Government's aim is to elevate people's livelihood by boosting economic capacity, said Minister Dr Khatiwada, adding that remittance would also be utilized properly.