Economist Dilli Raj Khanal views on budget

Kathmandu, July-14 Dr. Dilli Raj Khanal – economist stated his views on the budget presented today “I am confused whether the budget is a sweeping statement or periodic plan or yearly budget. This is also so when the government is caretaker. On the other hand, the budget has been presented at a time when the credibility of the budget has gone down at the lowest level. Despite mentioning that next year will be a implementation year, the solutions are still cosmetic without proposing specific solutions more candidly by realizing that a deep rooted structural and institutional reforms are prerequisite. Moreover, the 3 to 5 year plan in many programs seems a trick to divert attention from the required focus on coming year. The kind of priority to the rehabilitation and reconstruction was expected that is not there. Similarly, in regular component, the budget has not given due focus on the the revival and required means more explicitly. Similarly, an integrated relief package including livelihood program that was essential to the earthquake victims is not there. As in the past training to 50 thousands youth has been stated. Despite claim to the priority on going program, the budget is allocated or disbursed thinly repeating the past. Notwithstanding some added focus on social security and a few others, the budget is primarily ritualistic in terms of principle, direction, budget allocation and uses and more broadly budgetary management. The budget simply tries to mislead through sweeping statements here and there and hence this will dismally fail to revive the economy as expected and ensure even historical growth rate of 4 percent not to talk about 6 percent. The low priority to expedite the rehabilitation and reconstruction will be an additional constraint. This indeed will be a liability to the government to be formed after constitution as it will have some trapped type effect.”