Thursday, 23rd October 2014

Fin Min admits budget was 'ambitious'


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Finance Minister Shankar Prasad Koirala on Friday said that the budget of the current fiscal year was indeed “ambitious” as alleged by economists on the day it was unveiled.

Minister Koirala, who had earlier been denying accusations that the budget for the current fiscal year he presented was bloated and ambitious, made this admission in an interaction programme organised by Society of Economic Journalists of Nepal (SEJON) on budget implementation on Friday.

He further said that the 5.5 percent economic growth the current fiscal year’s budget projected could also not be realized.

“But still the country’s economic growth hovers close to that target,” Koirala said, claiming that the current government was successful in properly managing and propelling the economy forward during the interim period.

Saying that the government was also successful in establishing the common minimum economic agenda of the country, he said that the next government should also give utmost priority to water resources management, infrastructure development, agriculture and tourism industry.