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Appropriation Bill Business economic growth Finance Minister Yubaraj Khatiwada

FinMin defends self against downturn in economic growth

FinMin defends self against downturn in economic growth


Finance Minister Yubaraj Khatiwada as we speak stated that he’s accountable for enterprise actions and financial indicators earlier than the unfold of the COV- ID-19 contagion and never after the disaster started.

Addressing queries raised by lawmakers on the Appropriation Bill on the assembly of the House of Representatives as we speak, Khatiwada stated that blaming the finance minister for the downturn in financial development — together with the halt in financial actions, business operation and improvement actions — is illogical.

“Economic actions and indicators earlier than the unfold of coronavirus have been wholesome whereas the financial system has actually confronted plenty of challenges after the pandemic began and totally different measures adopted to comprise it. Even improvement expenditure was good earlier than the lockdown,” he claimed.

Responding to questions relating to insufficient reduction packages for crisis-hit companies, Khatiwada stated that the federal government has introduced reduction bundle of greater than Rs 300 billion for companies for his or her sustainability and revival by way of subsidised mortgage, curiosity subsidy and different tax reduction measures.

Similarly, he additionally talked about that the federal government had spent Rs 10 billion thus far to comprise the coronavirus and warranted the lawmakers that the federal government would make public the expenditure particulars quickly.

While responding to queries raised on rising the import obligation on electrical automobiles, Khatiwada stated that the federal government has raised such tax for under high-end electrical automobiles and that the federal government will promote power consumption in numerous different sectors. “It will not be that electrical energy consumption could be elevated solely by selling electrical automobiles. There are different sectors the place consumption of electrical energy could be raised and the federal government is wanting into it,” he added.

A model of this text seems in e-paper on June 10, 2020, of The Himalayan Times.



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