Finance Minister hopeful on target of economic growth rate for Current FY

Finance Minister Janardan Sharma has shared his hope that the target of economic growth rate made for the current fiscal year would be achieved, thanks to the reduced impact of COVID-19. It may be noted that the government has targeted to obtain the economic growth rate of 7 percent in the fiscal year 2078/079.

In a bi-annual review meeting at the Finance Ministry on Thursday, the Finance Minister argued that the target of economic growth is achievable since the economic activities have gradually increased while the impact of Omicron variant of coronavirus infection is reduced. Minister Sharma expressed confidence that the target of revenue collection would also be achieved.   

On the occasion, he pledged to end duplication in the programs of the local, provincial and federal levels while stating that reforms were needed in the government spending system.

Saying that the emerging issues like a hyper fund, betting, gaming, and cryptocurrency have posed challenges, Minister Sharma argued gaps in our laws and online trading is leading to capital outflow. 

Also present on the occasion were the Governor of the Nepal Rastra Bank Maha Prasad Adhikari, Finance Secretary Madhu Kumar Marasini, and other officials.