Minister harps on self-reliant economy

Kathmandu, May 17

Finance Minister Bishnu Paudel has said that the upcoming budget of fiscal year 2016-17 will have a major focus on addressing infrastructure impediments, boosting productivity and employment creation.

Addressing the pre-budget interaction programme organised by the Society of Economic Journalists-Nepal (SEJON), the finance minister said that the upcoming budget will lay the foundation for the the government’s vision to develop a self-reliant economy.

Minister Paudel denounced the widely shared perception that communist finance ministers are guided by populist programmes and distributive approach in the budget. “Our goal is to achieve socialism in the longer term through economic prosperity,” the finance minister said, adding, “The forthcoming budget will try to provide treatment for all economic ills to attain faster pace of economic growth to help Nepal achieve the status of a middle income country by 2030.”

In the pre-budget interaction programme, lawmakers, economists and private sector representatives put forth their suggestions for the upcoming budget.