Finance Minister seeks support to build self-reliant economy

Kathmandu, June 2 (RSS): Finance Minister Janardan Sharma has urged all sides concerned to extend support for building a self-reliant and socialism-oriented economy. He claimed that the government brought the budget in a way all sides, including the private sector, could feel ownership.

He said it during a programme organized jointly by Nepal Economic Association, CNI and Finance Ministry here Thursday. Minister Sharma assured, "The budget was prepared based on the suggestion and recommendation of concerned stakeholders. It has reflected your aspirations. I just presented it as your representation." He also said he brought the budget by addressing as many issues as possible.

On the occasion, Finance Secretary Madhu Kumar Marasini viewed that although the country's economy has witnessed stress, the budget for the coming year was brought with a comparative study. "Budget is also a political and economic document, so it carries some ambitious targets. If we're committed to working as per budget target, we can realize it in practice in view of the resources and potentials we have," he observed.

Senior advisor to the Finance Ministry, Dr Surendra Uprety, also seconded the Minister that all stakeholders could feel ownership of the budget.

Association Chairperson and noted economist Prof Bishwambhar Pyakurel said though the budget was good overall, it may be difficult to collect target revenue. The loan has upped from 36 percent to 44.5 percent, he added.

Other economists Dr Poshraj Pande and Prof Dr Govind Nepal said budget was inclusive and transformative.