The private sector umbrella organization has welcomed the budget for the financial year 2082/83 presented by Deputy Prime Minister and Finance Minister Bishnu Paudel on Thursday in both houses of Parliament.

Nepal Chamber of Commerce, Non-Resident Nepali Association (NRNA) and NADA Automobiles Association of Nepal have stated that the budget is balanced and private sector friendly and its implementation is challenging. 

Chamber has said that the budget brought by the government is balanced overall. The chamber mentioned that although it comes as an attempt to solve the current economic problems of the country, the implementation is challenging. "It is challenging to meet the target of revenue collection of 13 trillion 15 billion rupees and foreign loans and grants," said the statement issued by the chamber. 

The chamber says that the budget is oriented towards business facilitation, promotion of industrial investment and boosting the morale of the private sector. The chamber has taken positively the fact that the projects below 3 crore rupees are not kept in the budget of the federal government. The chamber has mentioned that the budget has been made by giving high priority to information technology, tourism and other sectors. 

Non-Resident Nepali Association has also welcomed the positive policies and programs included in the budget targeting non-resident Nepalis and foreign investment. NRNA said that Nepal will be developed as an excellent destination for foreign direct investment, investment promotion and double tax exemption agreements will be made with countries that have investment potential, the process of bringing in foreign investment and repatriation of profits will be simplified, and anchor investment policy will be adopted to attract foreign investment in areas of national priority, according to NRNA.

"We feel that the government has put forward a clear and positive policy for foreign investment, foreign employment, education, protecting the interests of expatriates and developing the productive sector," the statement issued by NRNA said, "NRNA is ready to assist in the effective implementation of these policies in cooperation with the Government of Nepal." It is believed that this budget will strengthen the relationship between non-resident Nepalis and the government.' 

Foreign investors, multinational companies, international organizations and their branches investing in Nepal are able to lease buildings or apartments for office or residential purposes, according to NRNA. According to the statement, Nepali businessmen or companies will be allowed to set up a processing factory by exporting sales branches or semi-processed materials abroad, legal arrangements will be made to allow up to 25 percent of the annual income from exports to be invested abroad, etc.