Kathmandu, March 29 -- Following a strong electoral mandate, Balendra Shah was sworn in as prime minister on Friday, with economist Swarnim Wagle appointed as finance minister in the majority government.

The ruling party has set ambitious economic targets in its election manifesto, aiming for an average annual growth of 7 percent (at constant prices) over five years, raising per capita income above $3,000 and expanding the economy close to Rs10 trillion. The finance ministry will play a central role in achieving these goals.

The manifesto also promises tax relief, a ban on retroactive taxation and income tax thresholds based on family burden. However, experts say implementing these commitments will not be easy.

Wagle, aligning with the...