‘ Budget should focus production of exportable goods’

Kathmandu, April 23. Experts on national economy and budget have suggested the government that it made the budget that focuses production of exportable goods, so that it would contribute to boosting national economy.

During an interaction relating to the formulation of upcoming budget organized by Nepal Management Association here on Tuesday, they underscored the need to augment production by expanding industrial capacity and bringing in more foreign investment.

At the interaction, Chairman of National Natural Resources and Finance Commission, Balananda Poudel, viewed that budget must focus on ways to ensuring national prosperity. The federal budget should also consider various aspects as it affects provincial and local levels, he added.

Former Vice-Chairman of the National Planning Commission, Shankar Prasad Sharma, reminded that real farmers were deprived of agricultural grants. A separate desk must be set up to implement the commitment foreign investors made during the recent investment summit, he added.

Former governor of Nepal Rastra Bank, Deependra Bahadur Chhetri, viewed that the traditional practice of low capital expenditure must be ended. Encouraging small industries is equally imperative, according to him. The mindset of asare bikas must be given up, he added, pointing out the need of harmonious cooperation with government employees.

Moreover, Chairman of Confederation of Nepalese Industries, Shatish Kumar More, urged the government to identify the priority areas and take the development projects in all seven provinces and augment domestic production.

Vice-Chairman of Nepal Chambers of Commerce, Kamalesh Kumar Agrawal, suggested for investment-friendly atmosphere and scientific tax system.

Chairman of Nepal Small and Cottage Industries, Shyam Prasad Giri, shared that although 380,000 industries were registered in the country, only 290,000 renewed. So, transfer of skill and knowledge to future generation for small industry is essential, he asserted.

On the occasion, Finance Minister Dr Yubaraj Khatiwada however said government was focused on how the domestic production could be made secure. As the discussion was underway on the upcoming budget, so the suggestions would be incorporated.

In response to the participants’ queries, Minister Dr Khatiwada argued that there was no trade deficit as reported outside. Only the evaluation of the activities carried out by the federal government, provincial governments and 753 local levels could give real facts and figure of capital expenditure. These figures also tell about the profit and loss. So, only evaluating the performance of federal government is not justifiable, he argued. RSS