Nawalpur: Experts have highlighted that the economy is not improving due to inadequate spending within the country. Speaking at an event organized to mark the 46th foundation day of Vijay Development Resource Center in Gaindakot, Nawalparasi (Bardghat-Sustapur), experts expressed concerns over the insufficient utilization of the country's budget.

During the occasion, Prof. Dr. Achyut Wagle, an economist and registrar at Kathmandu University, emphasized that the lack of capital expenditure is a significant challenge for the country's development. "The government allocates about 18 percent of the budget for development, but only 40 percent of it is spent. This is the main reason why the economy is not improving," he stated. Dr. Wagle also pointed out that the increasing number of citizens seeking foreign employment indicates a lack of faith in the state's economic prospects.

Namrata Sharma, an expert in institutional development and good governance, attributed the economic problems to distortions in traditional borrowing practices and financial networking. She noted that due to a lack of financial literacy, many citizens have fallen victim to fraudulent financial cooperatives.

Chandra Prasad Dhakal, President of the Nepal Federation of Savings and Credit Cooperative Unions Ltd., mentioned that some cooperatives have become problematic due to poor governance. Additionally, Badrikumar Guragai, Chief Executive Officer of Rastriya Sahakari Bank, highlighted the increased credit risk in financial cooperatives due to bad loans.

Keshav Prasad Sapkota, Executive Director of Vijay Bikas Resource Center, facilitated a group discussion on cooperative dialogue. Presentations on best practices in cooperatives were given by Prem Prasad Sapkota, President of VYCCU Savings and Credit Cooperative Society Limited, and Phulmaya Moktan, Chief Manager of Mahila Milan Savings and Credit Cooperative Society Limited.

Krishna Prasad Sapkota, President of the center, provided an overview of the organization's ongoing activities.