Claims that the budget has neglected agricultural production, industry and tourism
Former finance ministers and economists have given mixed reactions to the budget brought by the government. Some have criticized that even when there is a strong government, they have not been able to bring a budget that instills hope and confidence in the common people, while others have given room for doubt.
Many have criticized the budget for not giving priority to increasing employment through the development of agricultural production, industry and tourism.
Former Prime Minister and Finance Minister Baburam Bhattarai said that the budget came from a general reformative approach. He said that although the agricultural sector has been given priority, no new program has been introduced for the comprehensive reform of the education and health sectors.
There are some reformative things in this budget. There are some positive things like promoting the private sector, encouraging the IT sector, addressing the issue of climate change, encouraging electric vehicles without increasing tax, giving priority to start-up businesses," he said, "but there is a structural problem in the budget.
The ruling Congress spokesperson and former finance minister Prakasharan Mahat said that the removal of less than 3 crores from the plan budget is positive. Overall, the budget is headed in the right direction. In more than 4,000 projects, it was done as if Kanika was scattered, it has been removed. We had set a limit that the federal government should not have plans below 3 crores, the budget has come under that discipline. This is positive," Mahat said. "This will increase the effect of capital expenditure."
Former Finance Minister Varshman Pun claims that the budget has not been able to raise hopes and keep the economy running. He says that there is nothing new except the continuation of the old budget. He called the matter of keeping the tax on electric vehicles a positive step.
Economist Swarnim Wagle, who is also the vice president of RSVP, said that the size of the budget is not excessive and irresponsible. He said that in the past, the national and international situation was not unfavorable and even when there was a strong two-thirds government, the state's spending capacity could not be increased. According to Wagle, it is challenging to meet the revenue target due to increasing mismanagement and instability.
Janata Samajwadi Party Nepal Chairman Upendra Yadav said that the government has neglected the sector of agricultural production and industry. The Economic Survey has shown that the economic survey of the country is very poor, two institutions have been closed and 16 have gone into losses. The country is drowning in debt, the international world has put the country on the gray list. Corruption is extreme,' he said, 'the budget could not come to solve these issues.'
The issue of increasing production and employment was not given priority in the budget, said Rajendra Pandey, the vice president of the United Samajwadi Party. Some populist topics have come in the budget. Many are unreasonable," he said.
excited private sector
The private sector has responded that the budget for the coming financial year 2082/83 is an attempt to solve the current economic problems of the country. They say that the budget has come to encourage businessmen and boost their morale.
Chandra Dhakal, the president of Federation of Nepal Industry and Commerce, said that the budget of the next financial year has tried to address the current problems. "This time's budget has touched traditional topics such as agriculture, tourism, industry, new and comparative advantage," he said, "the concession given in the special economic zone and 30 percent export from the industrial zone will have a positive impact on the productive sector." "We have been raising the issue of land and EIA for industries, we said that the IT sector should also be given facilities like industry, these things have been addressed in the budget," he said, adding that this will increase the country's economy and economic activity.
Vice President of the Federation Jyotsna Shrestha said that the budget is good and it is encouraging businessmen. "The budget as a whole is trying to encourage businessmen," she said, "a lot of facilities have been given for women." Kamlesh Kumar Agarwal, president of the Nepal Chamber of Commerce, says that they are positive about the country's troubled budget. He suggested that the government should focus on the implementation of capital expenditure as there is a balanced current expenditure in the budget.
Nepal Bankers Association President Santosh Koirala said that the next year's budget will encourage digital transactions. But he suggests that if the budget issue is addressed by the monetary policy, digital transactions can be encouraged. Karan Chaudhary, President of NADA Automobiles Association of Nepal said that it is positive that the auto sector is included in the budget. "I am very positive about the budget," he said, "not only does it help in the development of the automobile sector, but it also shows the way to improve the living standards of the people." "The issue of establishing the country as an attractive destination is welcome," he said.
Tulsiram Dhakal, president of Nepal Stock Market Investors Association, said that there is no significant difference regarding the capital market in the budget. "It is not seen that the state should add profit tax," he said, "If the monetary policy remains unbalanced and the entire sector is not balanced, it will affect the economic activities."
Ganesh Karki, president of Independent Energy Producers Association of Nepal (IPPAN), responded that the issue of electricity trade was not included in the budget. We aimed to achieve economic prosperity through energy. But the budget could not bring any concrete program for the promotion of the private sector," he said.
Ravi Singh, the president of the Federation of Nepal Construction Professionals, also said that the budget for the next financial year did not fulfill the expectations of the construction professionals. He said that the construction businessmen who were excited by the policies and programs were disappointed by the budget. Economist Sanjay Acharya claims that the budget is status quo and it will not bring much change in the economy.
