KATHMANDU, Aug 24: Shram Sanskriti Party lawmaker Ambikadevi Sangroula has said the failure of the government’s budget for the current fiscal year has started becoming evident within the first month.
Speaking at Monday’s meeting of the House of Representatives, Sangroula said businesses’ reluctance to borrow and invest despite ample liquidity in the banking system signals a lack of confidence in the government’s economic policies.
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She also accused Finance Minister Dr. Swarnim Wagle, who ruling-party lawmakers claim has knowledge of 36 countries, of failing to understand his own country. She claimed that Rs 600 billion had been wiped out from the capital market since the formation of the current government.
“Ruling-party lawmakers say the finance minister knows 36 countries. But after knowing 36 countries, he failed to understand his own country. The failure of the budget he introduced became evident within the first month. Never in Nepal’s history have we seen so many problems and weaknesses in the economy,” she said.
“Why are people unwilling to borrow and invest despite such high liquidity in the banking system? Is it because businesses have lost confidence in the economic policies of the two-thirds majority government? Another thing is that Rs 600 billion has been wiped out from the capital market since the formation of the current government. Yet, despite such serious problems, the finance minister is busy running a lottery. Can the country develop without addressing the problems of the economy?” she said.
