Kathmandu, March 28 -- Nepal's economy currently remains under strain, with weak revenue collection, sluggish capital expenditure and declining foreign grants but with strong foreign currency reserves. Against this backdrop, noted economist Swarnim Wagle has assumed charge as finance minister.

Wagle faces an immediate test: raise revenue, accelerate capital spending and rein in recurrent expenditure while restoring fiscal discipline. Interest rates have fallen steadily, yet credit off-take remains weak, leaving banks flush with lendable cash. The private sector's confidence has eroded, citing an unfavourable investment climate and policy uncertainty. Reviving that confidence through credible fiscal management and targeted public spending...