Finance Minister Janardan Sharma has expressed displeasure over the meager capital expenditure. He stressed the need for adopting a new system to increase spending.
At a meeting of the ministry-level development problems solving committee and the first progress review of the fiscal year 2021/22 on Wednesday, Finance Minister Sharma viewed why the capital expenditure was not increased in a noticeable manner.
If such a trend persists next month too, a new system needs to be adopted, he stressed. “I’m planning a new way to increase capital expenditure in case this trend continues,” he reiterated at the meeting. Similarly, he showed concern over the rising import rate though there were bases to decrease it.
The Minister argued that as the import did not decrease, it impacted the trade balance and foreign cash reserve. He also underscored the need for lowering the interest rate of microcredits to one digit.
Making digital transactions broader is another priority, according to him. On this occasion, Finance Secretary Madhu Kumar Marasini argued that the import of gold could be tightened to reduce the pressure on liquidity. He urged all ministries to increase capital expenditure.
