Kathmandu. Vice Chairman of The National Planning Commission Prof. Nepal Rastra Bank (NRB) Governor Prof Dr Bishwanath Adhikari held a meeting today.

During the meeting, discussions were held on the harmony of monetary policy and finance policy.

The meeting was held on the eve of the 54th meeting of the Commission’s National Development Problem Resolution Committee and the formulation of monetary policy for the upcoming fiscal year of the Nepal Rastra Bank( NRB).

On the occasion, Commission Vice-Chairman Prof Dr Shivaraj Adhikari said the time has come to debate on the existing methodology and economic model.

Stating that some pride projects that take 20 to 25 years to complete could be completed within two years, he claimed that the country could be taken forward by completing the projects of national pride as the right time and adequate resources were available now.

He also stressed the need to connect development models with each other. Vice-Chairman Adhikari also suggested the Rastra Bank to give priority to foreign direct investment in the coming days.

Nepal Rastra Bank (NRB) Governor Dr Bishwanath Poudel stressed the need for investment in productive sectors where sustainable economic growth can be achieved rather than investing in unproductive sectors.

He said it was unfortunate that the country, which is having good economic growth, has been included in the grey list and the Rastra Bank is also working hard to get out of it. Governor Dr. Poudel also said that the discussion held by the Planning Commission would have special significance.

In the discussion, members of the Planning Commission have a tendency to complain that microfinance and cooperatives should be reformed and made dynamic, which has affected the economic cycle, credit should be subsidized in the agriculture sector, long-term action plan should be linked not only to economic development but also to socio-economic development, the policy of expanding bank branches is needed in remote areas and overcrowded in cities, NPL is increasing with economic challenges, private sectors do not make any plan when interest rates are low but if interest rates are high. Stating that there was a need for financial literacy among the common people, he suggested that such issues should be included in the upcoming policy.