Nepal Rastra Bank Governor States Monetary Policy Supports Government Budget

Kathmandu. Nepal Rastra Bank Governor Dr. Bishwanath Poudel has stated that the monetary policy for the fiscal year 2083/84 has been brought in a way that supports the government's budget and policy and program. He expressed this view while speaking at a policy discussion program on Monetary Policy 2083/84 organized by the Former Planners Society Nepal in Kathmandu today. Discussing the fact that in previous years, more expectations were placed on the monetary policy than on the government's policy and program and budget, Governor Poudel said, 'The monetary policy cannot be bigger than the budget and policy and program brought by the government, so we have brought the monetary policy in a way that supports the budget brought by the government.' Governor Poudel claims that the Rastra Bank has brought the monetary policy in accordance with the authority given by law. He clarified that although information used to leak before the monetary policy was made public in previous years, nothing of the sort has happened this time. Stating that the government should address issues of public concern, he made it clear that the Rastra Bank alone cannot address all issues. In the program, former executive director of Nepal Rastra Bank, Nar Bahadur Thapa, commented that although it was hoped that all kinds of problems would be addressed by the monetary policy in previous years, this year's monetary policy is focused on a limited area. Recalling that in the past, the public expectation was that all problems would be solved by the monetary policy, he said, 'This time, it has raised the suspicion that the people's wishes and aspirations have been disappointed, but there is no need to be disappointed as the policy has come in different sections.' According to former executive director Thapa, from this year onwards, the monetary policy has been brought separately in three sections. He expressed the view that it is not enough to restructure loans every year, and suggested that entrepreneurship cannot develop unless corporate restructuring is done, and the Rastra Bank needs to move forward in this direction.