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May 31: Nepal Chamber of Commerce (CNN) has said that it is quite challenging to meet the economic growth target set by the government for the next fiscal year.
While presenting the budget in parliament on Sunday, Finance Minister Janardan Sharma had claimed that the government has set a target of attaining 8 percent growth while keeping inflation below 7 percent.
Issuing a statement on Monday, NCC said that the growth target of the government is hard to achieve.
“Implementation of budget is quite challenging due to the deteriorating situation of the world economy and declining foreign exchange reserves of the country in addition to the liquidity crisis,” the statement read, adding, “As the implementation of budget is challenging, it is hard to meet the target of 8 percent economic growth while keeping inflation below 7 percent.”
NCC however, praised the government’s decision to allocate Rs 55.97 billion for the agriculture sector and its transformation through commercialization and modernization.
The chamber also welcomed the government’s decision related to the energy sector. The government had announced to distribute electric stoves and avail electricity at affordable rates among others.
NCC further said that the private sector is excited by the prospect of creating conducive environment for industrialization and creation of job opportunities.
The chamber also urged the government to hold discussion with stakeholders regarding implementation of policies and programmes in an effective manner.
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'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '15372',
'hit' => '664'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
