Finance Minister Professor Biman Prasad has stated that his role is not about winning “popularity contests.” During an appearance on The Lens@177, Prof. Prasad highlighted that finance ministers are rarely popular, even in favorable times.
“It’s not about me failing as Minister of Finance; it’s about not failing the country,” Prof. Prasad emphasized. “That is what I set out to do. That is what the honorable Prime Minister set out to do. That is what we set out to do as a Coalition Government.”
Prof. Prasad underscored that his responsibility as Minister of Finance is to ensure the right actions are taken. “I am doing the work that will ultimately be in the interests of our people, particularly our low-income and vulnerable populations, and that is the focus,” he said. “And that is what I will persist in doing throughout my term as Minister of Finance.”
He noted that he has established an economic model which could guide future governments in working towards the nation’s betterment, a model that includes raising revenue. According to Prof. Prasad, raising revenue is beneficial as it allows the government to provide support and funding to the most vulnerable and low-income individuals.
“This is exactly the economic model that I have implemented as Minister of Finance, and that the Government has followed since the last budget and in the current budget,” he explained. “Even if we are not in power after the next election, any incoming government will recognize the logic and benefits of what we have done in these budgets. By the time we complete all the budgets during my term, the country will be on much stronger footing for future governments.”
Prof. Prasad concluded by emphasizing that this approach is the guiding principle in managing the economy.