Emphasis on result-oriented economic development through effective budget performance and balanced monetary policy.
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Experts have pointed out that emphasis should be placed on effective budget performance and result-oriented economic development through a balanced monetary policy. They said this at a special interaction titled ‘Post-Budget Analysis and Discussion on Future Monetary Policy’ organized by the Nepal Management Association (MAN) with the aim of reviewing the budget for the fiscal year 2083/84 and collecting suggestions for the future monetary policy. The program, which was discussed in two sessions, discussed economic policy, structural reforms, and resource mobilization. The discussion included a detailed review of the budget size, revenue targets, and structural reform measures to be taken to increase capital expenditure. Emphasis was also placed on the role that the parliament and the government should play for policy continuity and creating an industry-friendly environment. The participants presented questions and policy suggestions about the budget implementation process and its impact on the private sector.
In the second session, on the topic of ‘Direction and Perspective of Future Monetary Policy’, he said that a monetary policy that supports financial sector stability and economic growth is essential.
Former Vice Chairman of the National Planning Commission Dr. Prakash Shrestha presented a working paper and presented a technical analysis of the current economic indicators and the direction to be taken by the future monetary policy.
Commenting on the working paper, economic expert and former Executive Director of Nepal Rastra Bank Nar Bahadur Thapa and senior banker and financial analyst Analraj Bhattarai expressed their views on market liquidity management, credit flow and balance of interest rates.
Experts pointed out that no matter how good the goals are set in the country’s economy, the main problem is ‘performance’. Our goals and deadlines are clear, but the expected results have not been achieved due to the failure to perform the work within the specified time. Therefore, the speakers emphasized that now we should focus on work and results rather than words.
The chief guest of the program held on Friday, Deputy Governor of Nepal Rastra Bank Kiran Pandit, assured that the monetary policy will support the budget's economic growth target and maintain financial stability. He also expressed his commitment that the Rastra Bank will seriously consider the technical and practical suggestions received from experts.
