Businessmen in the Bhairahawa region have viewed the budget for the fiscal year 2083/084 as positive, but have said that there are still challenges in terms of implementation.
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The industrialists of Butwal have welcomed the upcoming budget presented by Finance Minister Swarnim Wagle as a 'good' budget. They have expressed their reaction that although Rupandehi, which is being developed as an economic hub, has been neglected in the budget, it is in the interest of the industrialists. The industrialists have responded positively that many areas of the budget have been implemented.
The budget has said that the responsibility of operating the Gautam Buddha International Airport will be given to the private sector. The Siddha Baba Tunnel under construction near Butwal is only mentioned to be operational within the next fiscal year.
The government has mentioned that the government has allocated Rs 830 million for the comprehensive Lumbini Development Program for the development of the tourism sector. Similarly, the government has also mentioned the comprehensive infrastructure development of Devdaha, Ramgram, Tilaurakot and Kapilvastu areas and placing Tilaurakot on the World Heritage List.
Similarly, the entrepreneurs have responded that the issues of making the Siddhartha Highway from Butwal to Pokhara via Palpa an international standard, constructing the Kali Gandaki Ring Road, and developing the provincial hospital into a specialized hospital are positive for this sector.
Similarly, issues such as customs exemption on raw materials, amendment to the Industrial Act, policy of disbursing loans to buildings constructed by entrepreneurs within the industrial sector, making a debt recovery act, 10 percent refund on digital payment of VAT, and abolition of excise duty on 360 items are fruitful for industrialists, said Ejaz Alam, President of the Federation of Nepal Industrial Zone Industries and former President of the Rupandehi Industry Association.
He claims that although some of the provisions that were introduced in previous years could not be implemented, there is a possibility of implementing the current issues.
‘Reducing customs duty on 273 types of raw materials, abolishing excise duty on 360 items and other issues will provide great relief to industrialists,’ he said, ‘Amendment of the Industrial Act, policy to provide credit to buildings constructed by entrepreneurs within the industrial sector, making a debt recovery act, 10 percent refund on digital payment of VAT and other provisions are also very positive.’ He said that the government’s economic and industrial policy for the coming year will be in the interest of the country if implemented.
Businessmen have also called the government’s determination of customs duty in 7 levels, abolition of 31 bodies, and reorganization of 18 bodies and other issues positive. Businessmen are also excited about collaborating with the private sector in some areas that will increase economic activity.
Central member of the Federation of Nepalese Chambers of Commerce and Industry and President of Butwal Chamber of Commerce and Industry Hari Prasad Aryal said that the budget is good overall. He said that collaborating with the private sector for the operation of Gautam Buddha Airport and Motipur Industrial Zone is positive.
‘The issue of cooperation with the private sector for the construction and operation of the Motipur Industrial Zone and the operation of the Dhaubadi Iron Mine can be taken very positively,’ he said, ‘The government should resolve the dispute in the Motipur area.’ However, he said that there are some difficult issues such as the increase in salaries in the public sector, which may increase the problems of workers in the private sector, and the possibility of price increase going out of control, so it is necessary to see how the government resolves them. He claims that the issue of the government increasing revenue collection in proportion to operating expenses is also challenging.
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Rajesh Agrawal, an entrepreneur from Bhairahawa and central member of the Federation of Nepalese Chambers of Commerce and Industry, said that the current budget is very positive. He said that plans ranging from the stock market to making industrial and business viable have been included in the budget.
‘This budget is not distribution-oriented but development-oriented,’ Agrawal said, ‘The abolition of excise duty on various goods will stop illegal imports.’ I am very excited because the budget is scientific. He responded by focusing more on physical infrastructure and increasing the development budget.
Krishna Prasad Sharma, the central vice-president of the federation and another local businessman from Bhairahawa, said that although the budget could not clarify the export-oriented industries, it was positive because it boosted the morale of private entrepreneurs.
‘Despite the challenges in the implementation of the budget, it has tried to encourage entrepreneurship among women, youth, small investors, etc.,’ Sharma said. ‘It has emphasized on the development of infrastructure in an integrated manner by connecting tourism sectors and increasing the confidence of the private sector.’
The provisions such as the abolition of excise duty currently imposed on 360 items, the integration of scattered taxes such as infrastructure development tax collected at customs points, road maintenance and improvement fees and inclusion in the green tax have been positively received by the businessmen of the Bhairahawa region.
Netra Prasad Acharya, the president of the Siddhartha Chamber of Commerce and Industry, responded that the budget is welcome overall and in favor of entrepreneurs. ‘The budget has encouraged entrepreneurs,’ said Acharya. ‘Along with the promise of providing various exemptions and facilities to entrepreneurs, the budget has also sought ways to increase tax collection.’
Devendra Sahu, General Manager of Panchakanya Group, said that the current budget has positively covered everything from development and construction to tourism and physical infrastructure to industrial entrepreneurs. ‘The budget has also covered all the provinces in a balanced manner,’ said Sahu. ‘It seems to be the best budget I have heard so far.’
He said that the budget has covered all the issues including making the Gautam Buddha International Airport operational, developing the tourism sector, how to allocate expenses, and how to collect financial resources.
He said that the customs duty on industrial raw materials has been reduced to at least one level lower than that of finished goods, and the provision that the customs duty on 273 types of raw materials has been reduced to at least one level lower than that of finished goods, and the existing eleven levels of customs duty have been limited to seven levels, which has encouraged entrepreneurs.
Laxmi Adhikari, General Secretary of the Chamber of Commerce Rupandehi, said that the budget is very excellent. She said that all aspects, including the geographical situation of the country, have been carefully studied and included in the budget.
‘Women, farmers, youth, and the private investment sector have been addressed in the budget,’ she said, ‘I am also confident that the budget will be implemented.’ She said that even in the current weak economy, it is not a normal thing to bring a budget that is favorable to all parties.
