Home National Positive Reaction To Buget For F/Y 2015/16

Positive Reaction To Buget For F/Y 2015/16

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Kathmandu, July 15, 2015: The reactions has been overall positive to the the budget estimates presented by Finance Minister Dr Ram Sharan Mahat.

The private sector, party leaders and former finance ministers expressing the mixed reaction said though the budget was positive in totality, it has not been able to generate any new hope to the economy at the CA building premises after listening to the budget on Tuesday.

Similarly, Nepali Congress Vice-president Ram Chandra Poudel said as implementation was a long-standing problem, the budget should have provisions to ensure accountability as far as the implementation is concerned. He added that the implementation shall not be successful neither will the targets be met without accountability.

The new budget has come as a continuity of the old programmes, said UCPN (Maoist) leader and former Prime Minister Dr Baburam Bhattarai. He further stated that, it does not include anything special including on revenue mobilization and structural changes to address the economic growth rate that has come down to just three percent.

The budget had given high priority to physical infrastructure development but not addressed the economic and political crises facing the country, as per RPP Nepal President Kamal Thapa.

In the regard CPN-UML leader and former Finance Minister Surendra Pandey also pointed that the effort has not been made to draw a path of the overall economy in the new post-quake scenario of the country. Likewise, the budget had nothing new than the emphasis on post-quake reconstruction, according to a former Finance Minister and UML leader Bharat Mohan Adhikari.

Furthermore, General Secretary of MJF-D Jitendra Dev said that the things mentioned in the policy and programmes were not included in the budget and the budget is not likely to promote balanced development, as it continues to maintain the class-wise gap.

The proposal to join hands with the private sector was positive, President of Federation of Nepalese Chambers of Commerce and Industry Pashupati Murarka said. He added that their demands to not levy tax in different sectors have been addressed.

Moreover, Senior Vice-president of Federation of Nepal Cottage and Small Industries Shyam Prasad Giri said the budget for the new financial year has addressed the concerns for micro-enterprise development in the country. Likewise, the role of the private sector must be sought in the implementation of the budget, which is eagerly awaited, said Senior Vice-president of FNCCI Bhawani Rana.

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