Kathmandu. Finance Minister Dr. Swarnim Wagle has said that the government’s budget of Rs 20 trillion alone will achieve economic growth rate is wrong. Speaking at a press conference organized at the Ministry of Finance, Wagle said that Nepal’s economy is around Rs 70 trillion and the government is focused on the goal of expanding the overall economy rather than the budget of Rs 20 trillion. 

According to him, the government is aiming to get rid of the illusion that 7 percent economic growth will be achieved by spending Rs 2 0 trillion. 

According to Finance Minister Wagle, the government will build basic infrastructure and services such as roads,electricity, peace and security and justice system to boost the confidence of the private sector.The Finance Minister said that the government is hopeful that economic activities will expand by attracting private investment. 

Likewise, Finance Minister Wagle said that the government has set a target to increase Nepal’s economy from Rs 700 trillion to Rs 150 trillion within seven years. 

Stating that the government was not in the model of investing and operating in all sectors on its own, Finance Minister Wagle said the government had prioritized the concept of a strong and effective regulatory state.