Sunday, June 12, 2016

FM denies budget caused inflation

Kathmandu, June 11: Finanace Minister Bishnu Prasad Paudel Saturday claimed that budget had not pushed the price of essential goods and commodities up.
Speaking at an interaction in the capital, he said, “It is irrational to say that the budget contributed to increase daily essential good and commodities because it has not been yet passed by the parliament.”
He claimed that there were no provisions which could support inflation in the budget document and challenged to find out such programmes.
Minister Poudel said that there was double digit inflation before he presented the budget of the upcoming year. “The government has aimed at reducing the inflation rate to 7.5 per cent from the double digit inflation a couple of months ago.”
He informed that the government had started to formulate an action plan to put the inflation rate in control in the days to come. He assured that the inflation wouldn’t go up than what had been promised in the budget.
The Finance Minister held himself fully accountable to the document of the income and expenditure for the upcoming year.
He stated that the country was moving towards socialism after the promulgation of the new constitution and he tried to present the budget in line with the aspirations of the constitution and the principle of social justice.
 “We are fully committed to achieving 6.5 per cent economic growth rate. The revenue target will also be met easily,” he said.

Speaking on a different note, Minister Poudel said that the government would stay in power till February next year and would conduct parliamentary election. 

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