Budget is unusually bloated: former Finance Minister Mahat

Chitwan–Former finance minister and Nepali Congress leader Dr Ram Sharan Mahat has criticized the budget for the fiscal year 2019/2020, saying its size was artificially bloated.

Talking to journalists here today, he said the size of the budget has been increased by taking loans. Dr Mahat opined that the budget that has been brought with the intention of accumulating money on the basis of loans amounting to one-third of the total budget would invite a fiscal crisis.

"The government has proposed to mobilize loans of approximately 15 per cent of the GDP in one year. This will bring financial crisis in the country and will also push up inflation," the former Finance Minister said, adding that this was the largest ever loan amount in history including domestic and external loans.

He claimed that a wave of support towards the Nepali Congress has increased with the general public and the intelligentsia becoming frustrated with the present government. He also stressed the need of bolstering the party unity by ending the factionalism within it.

Dr Mahat also stated that the attention of the international community has been drawn towards the various bills including the bill on human rights and the bill related to transitional justice, the government has brought.