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Economic development in top priority: Finance Minister

  1 min 10 sec to read

January 6: Finance Minister Bishnu Prasad Poudel has said that the government has kept the agenda of economic development in top priority to reduce all matters that have negative impact on the country’s economy.

At a news conference in the Finance Ministry on Wednesday, Minister Poudel said that issues of economic development have been kept in the centre to end the impact seen in agriculture, industry, tourism, trade, construction and service sectors. He estimated that the economic growth rate in the fiscal year would remain 2 per cent while the inflation rate would go as high as 10.4 per cent. “Revenue collection during the first five months of the current fiscal year was recorded Rs 112.81 billion against the target of Rs 162.26 billion,” the Finance Minister said.

Poudel added that revenue collection has witnessed progress from the month of Mangsir but the revenue collection is nearly Rs 29 billion less compared to the review period of the last fiscal year. He also stated that the government has taken a decision to revitalise the economy through different programmes that has been hit by the earthquake and border disruption with India.

Minister Poudel also said that the duration to submit the monthly and quarterly details of income tax, VAT, excise duty, education service tax and health care service tax from mid-August has been extended till the mid-January. RSS

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