If the government can spend the development budget it has allocated for the new fiscal year, then an economic growth rate of 6.5 percent is not impossible. But given the government’s poor track record in spending the development budget, the target of 6.5 per cent growth rate becomes ambitious,” he told Republica Online soon after Minister Paudel concluded his budget speech. President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pashupati Murarka has said that the new national budget for Fiscal Year 2016/17 presented by Finance Minister Bishnu Paudel at the Legislature-Parliament on Saturday has set some ambitious targets such as achieving 6.5 percent economic growth rate, keeping inflation below 7.5 per cent and creating 400,000 new jobs in the new fiscal year and that it will be quite tough to meet these targets.”
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