South Asian News Network

Bishnu Prasad Paudel, the finance minister and deputy prime minister, has highlighted the difficulties emerging and least developed nations confront in allocating resources for development as a result of inadequate tax collection and mounting public debt commitments. In order to achieve the Sustainable Development Goals, the UN stresses how crucial it is to mobilize money for development (SDGs). The primary obstacle is the dearth of funding sources, especially in light of the effects of climate change. Paudel demanded innovative and different approaches to funding development, such as a development fiscal draft that makes the most use of all available resources. The government is dedicated to encouraging investment from the business sector and generating job opportunities. Nepal’s low level of foreign direct investment—just 0.2% of GDP—presents a serious threat to the country’s economic stability.