May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.    
The Finance Minister made such remark while launching the Economic Survey at the Ministry of Finance on Friday afternoon (May 28), according to the state-owned national news agency RSS. On the occasion, he shared that it was a challenge even to achieve revised economic growth target in the current fiscal year.    
The government had set the target of achieving 7 per cent economic growth while launching the budget for the current fiscal year. It had later lowered that figure and estimated economic growth to be 4.01 per cent in view of the coronavirus pandemic.    
According to the Finance Minister, a situation has arisen in which the revised projected target of 4.01 per cent also could not be achieved as prohibitory order has been issued in many places of the country to contain the spread of the second wave of COVID-19.    
He, however, added that most of the macroeconomic indicators were positive even in the adverse situation of the pandemic.    
Finance Minister Poudel said that domestic investment has expanded, the scope of financial access, capital market and insurance has broadened, the overall balance of payment situation was in reserve and the remittance inflow and foreign exchange reserve have increased. .

Meanwhile, it has been learnt that the government is making preparations to announce the budget for the upcoming fiscal year through an ordinance at 4 PM today afternoon (May 29).