The upcoming budget boosts confidence

After the arrival of covid, it is a global epidemic even more than ours. Then came the Russia-Ukraine war. When we kept the economy open after covid, our production was not . Imports increased rapidly. Along with that, the war made the supply system constant . The price of petroleum products increased in the international market. The dollars here had to be imported. Then we waved . Today we are commenting that the economy has deteriorated.

In a state with a small economy, we are greatly affected by international events. What is the government that can resist it, that can destroy the difficult situation? Only if the discussion can be focused there, we will take the right direction as a small economy . So far, we have only been on top . What is regulation? What makes us generally self-sufficient? Do we have the resource ? In fact, the basis of our economy should be found at the grassroots level. It has to be found in agricultural products. Nepal cannot become economically self-sufficient by importing 3.5-4 trillion annually. That's why we have been affected by the events that happen in the international market. To counteract this, we should be able to become financially independent. Because the local production is not enough, we have to be swayed by international events .

There should be a debate about how to increase your financial resilience to be less affected by such external influences or to counteract them. Initiatives should be started from the ground level to make Nepal self-sufficient at a grateful level. My request to the private sector is that you are the engine of growth. Add this engine of growth to rural areas as well, . Provinces and Municipalities also had to be included in the engine of development .

Bureaucracy is traditionally conservative by nature. We are not the group to make so many basic changes and have the courage. All policies are driven by political and eco systems. But our aim is not to intervene and change the economy and policy too much. Not too intrusive . Interference is to be done in a positive manner. During the investment conference, 8 laws have been amended at once to make them investment friendly. Such positive work should be done. But the industrial policy, tax policy should not be changed much . Not too interfering with other investment friendly environment . Instead, it will be facilitated. The driver is politics. Many things can be done if there is political agreement.

Our government says let's spend. In a small economy like ours, the more money you spend, the better your impact will be . It creates more employment and income. Looking at the state of the government, 59 percent revenue has been collected in 10 months. Looking at it from the same perspective, the government has stable resources. But this does not mean that the government will not give the money it has committed to, it just takes some time to manage it . And, even now, after the budget has returned to the finance minister, we have made payments even though the source is stable. Some payments have also increased.

We are not even on the side of prevention . We give exports, not only this, but also capital expenditure . The builders have said a lot of backlock . We will give that amount soon . Here, Finance Minister, Governor, I am also on the board of Rashtra Bank as Finance Secretary . For that reason, we don't think that it should be done in an unrelated way . Sometimes since you and I are different people, you and our nature, needs are somewhat different . This does not mean that we work in isolation. Even if there is a diversion in some ways, the government will coordinate it. The focus of all of us is the prosperity of the country. In that way, we will sit on the same board and achieve the goal. If it is to transform the country, there is no difference.

There is no question of the government favoring anyone. Instead, our goal is to look at the lower and backward classes. There are specially focused programs for Dalits, backward, Karnali region and Terai Madhes. The question may be whether the focused program is sufficient. But the government has brought a special program for the backward classes . Because it is a committed responsibility, the government is going to implement the constitution and make it a socialism-oriented country instead of looking at its own pockets . The cost in agriculture is high . We have given 30 billion budget in chemical fertilizers. We have given it to reduce the cost of farmers. Not only in the federal budget, but also from the provincial and municipal budgets, fertilizer should be provided as a subsidy . The government has prioritized the agricultural sector from its position. It is to reduce the cost, now there is an effort to reduce the cost in the budget.

When talking about the base of the economy, even now 60 percent is agriculture, that is the base . Apart from that, hydro, pyreton, IT sector then construction sector is also emerging. Their sustainability also needs to be looked at. How long can we last . And, export potential and economy should be looked at in a way that gives regency, we have looked at it in the same way .

Don't worry about the upcoming budget, you can increase your confidence with fun . And, we also raise hope . Our policy is to increase self-strength of industrialists. It has been said that policy stability is needed, the finance minister and the governor of Rashtra Bank are here . Industrialists, media sector is here .
If only the capital expenditure of the government cannot make a leap in development, then the door of the private sector should also be opened . After opening up the private sector in the hydropower sector, the production of hydropower has increased and now we have reached the stage of export after ending loadshedding.

Likewise, what other areas can there be, where the private sector also sees incentives . It also helps in the construction of public infrastructure. Now let's go there too . Capital expenditure by the government is only 60 to 65 percent every year. Therefore, we will spare no effort in increasing policy stability and confidence .