Kathmandu. It has been one year since the present government was formed. Deput TAG_CLOSE_span_24 y Prime Minister and Finance Minister Bishnu Prasad Poudel has taken charge of the post of Deputy Prime Minister and Finance Minister on July 12 last year.

Poudel has informed the Deputy Prime Minister and The Finance Minister that he has done various works in the last one year. He said that the one-year tenure was very successful. Minister Poudel claimed that the work done in the last one year is a matter of pride.

He said that the present government has made many policy reforms to create an investment-friendly environment. Minister Poudel claimed that there has been a lot of legal reform during this period. According to him, during this period, the Economic Procedure and Financial Responsibility (First Amendment) Act, 2081, the Amendment Act 2081, the Privatization (First Amendment) Act, 2081, the Customs Duty Act, 2081, the Banking Offences and Punishment Act 2082 and the Customs Act 2081 have been brought.

Similarly, the Appropriation Act 2082, The National Debt Collection Act 2082, The Economic Act 2082, The Alternative Development Finance Mobilization Bill 2081, (presented in the House of Representatives), the Internal Revenue Mobilization Strategy 2081, the Criteria 2081 and the Foreign Aid Mobilization Policy 2082 have also been made public.

However, there are challenges for the economy to achieve target revenue collection, further increase in capital expenditure and exit the grey list. The Ministry of Finance has constituted a high-level Economic Suggestion Reform Commission and made it eligible to implement the commission’s report.

Similarly, the complaints and demands of the private sector have been heard and confidence has increased. The complaints and demands of the construction sector have been heard. Looking at the economic growth rate, the problem of payment and payment of more than Rs 30 billion in the previous year has been solved.

In the current fiscal year, the project has been estimated at 4.61 percent. Last year it was 3.87 percent. The multi-year contract process has been made systematic and implementable. The size of the economy has increased by Rs 400 billion. Last year, it was Rs 5.7 trillion, which has reached Rs 6.1 trillion this year. The revenue growth has been Rs 1,097 billion.

Remittance surged 15.5 per cent to Rs 1,532 billion. Last year, it was Rs 1,327 billion. Similarly, the research situation has improved. It has now reached Rs 491 billion. Last year it was Rs 492 billion. The foreign exchange reserves stood at $186.5 million. It was $14.72 billion last year.

Similarly, there has been an increase in foreign aid commitments. This has increased by 119 billion. A total of Rs 219 billion has been committed this year. In the same period last year, there was a commitment of Rs 102 billion. Similarly, inflation stood at 2.77 per cent as of April this year. The current account savings stood at Rs 307 billion in the current year.

Last year it was 200 billion. The interest rate is 6.9 percent in the current year (commercial banks). Last year, the average base rate was 8.17. In the current fiscal year, it will be able to sustain 17 months of import of goods and 14 months of import of goods and services. Last year, it was able to sustain the import of goods for 15 months and goods and services for 12 months.

The index is positive in 18 sectors of the economy including transport construction, mining, electricity and gas, trade, bank and insurance, industry, real estate, information technology, agriculture and forestry, administrative services, health services, scientific services, industrial production, education and housing and food.

The budget will help keep the economy moving, increase production and productivity, create jobs, attract domestic and foreign investment. Similarly, many important issues have been put forward in the field of energy, water resources, industrialization, labor employment, education, health and agriculture.

The government believes that the implementation of these programs will keep our economy running. Monetary policy also naturally emphasizes the implementation of finance. Minister Poudel claimed that through the effectiveness of the government’s monetary policy and the overall budget, we can make the economy dynamic. As a result, 6 percent economic growth is expected in the next financial year.