Kathmandu, March 6 -- The government is hopeful of achieving an economic growth rate of 7-8 percent despite a slowdown in capital expenditure. Finance Minister Yuba Raj Khatiwada had forecasted a growth rate of 8 percent when he presented the budget statement for the current fiscal year to Parliament.

Addressing a programme organised by the Finance Ministry to publish the findings of the mid-term review of the annual budget on Tuesday, Khatiwada said the government was still on track to achieve the economic growth predicted for this fiscal year despite the capital spending falling way below target.

"I will not be obstinate and say that we will achieve the economic growth of 8 percent during this fiscal year, but we will achieve a growth...