Economy progressing toward positive direction: FM Mahat

By TRN Online, Kathmandu, Feb 26: Finance Minister Dr Prakash Sharan Mahat has said that the economy of the country is gradually progressing to a positive direction.  

Presenting the proposal on the need to discuss the principle and priority of the appropriation bill for the fiscal year of 2081/82 BS at the parliament today, Finance Minister Dr. Mahat said that the economy of the country is progressing. 

The Finance Minister clarified that economy was moving toward positive direction as a cumulative result of the simplification of process to create conducive environment for investment, regular discussion with the private sector, continuous efforts to make capital expenditure effective, flexibility adopted in fiscal policy, and the endevours made to create balance between fiscal policy and financial policy.

The production of electricity or power and increased tourism along with spiked foreign investment have impacted positively on the economy of the country. 

FM Dr. Mahat said, “Making the process easy for creating the environment feasible for investment, regular discussion with the private sector, regular attempts to make capital expenditure effective, flexibility on fiscal policy, and balance created between fiscal policy and financial policy, are the reasons because of which the country is gradually moving towards a positive direction.”

He said that the collection of revenue has increased by 10 per cent and is estimated to grow more in the coming days.  

He said, “Increase in the production of electricity, tourism, and foreign investment has contributed positively to the economy of the country. There is sufficient liquidity in the banking sector, interest rates have reduced towards one point, increase in deposit and credit flow. Progressing towards buying and selling of land and capital market. Foreign reserve condition and adequate foreign exchange rate has created a positive environment for the economy of the country.”