ACROSS THE NATION
I feel there is a need to increase the development budget. The country is in a very bad state, while the development budget continues to be minimal. The customs rate should be decreased and the new income tax law should be amended. The budget should be implemented within two months and the department that fail to do so, should be penalised. Implementing the budget recommendations is crucial. Since the export sector is facing a tough time, the export tax should be abolished. Sick industries should be given special income tax facilities and incentives. The ordinance budget should support Nepali industrialists in investing in foreign countries, taking into consideration the sick industrial condition within the country. The decentralised economic management concept should be incorporated in the forthcoming budget. The budget should give priority to development in rural areas and create an environment for increased investment in development.
— Jeevan Nepal, chairman, Morang Chamber of Commerce and Industry •••
The country is going through a financial crisis due particularly to the Maoists insurgency going on for the last eight years. Solving this problem will be key to progress. It would also help industrialists and businessmen. If the budget does not support the business sector, there is no chance for the country. In line with WTO rules, the budget should try to draw foreign capital. The budget should address tourism development, prioritise nationwide electrification and increase investment on agriculture sector. The country is groaning under international loans. The forthcoming budget should work towards decreasing it. The budget should push forth the concept of decentralised economic management. The government must also ensure that the budget is implemented well. A roadmap with a timeframe should be created. The budget should prioritise the development of rural areas and create an environment to increase investment in education, tourism, health and media.
—Kishor Pradhan, chairman, Morang Industrial Association •••
The forthcoming budget should focus on industry, business, development and employment. It should increase investments on the development sector. It should also focus on agricultural development, generating employment opportunities in villages and social services. Savings as well as exports should be prioritised in the budget and it should help in the conservation of national industries. It should also provide loans at subsidised rates for higher education. Since the export sector is facing some difficulties, the export tax should be brought down to zero. Industries that are adversely affected due to the present condition should be given some special tax facilities. Backward communities, dalits and women should receive some attention from the forthcoming budget for their uplift. More investment should be made on development works, particularly for construction of roads, bridges, culverts and schools, instead of spending money on the purchase of arms and ammunitions.
— Tara Chand Khetan, ex-chairman, Morang Chamber of Commerce and Industry •••
Nepal has just joined international business organisations like the WTO and SAFTA. However, it would be difficult to take full advantage of these under the current scenario prevailing in the country. To catch up, investment on electricity, tourism, human resource development, education, health and mine excavation should be increased. Similarly, export promotion centres should also be established to increase our competitive capacity. The dry port should be utilised to its full potential. Customs administration should be uncomplicated and more business and transportation treaties should be concluded. Work plans to increase employment, human resources and foreign currency should be made. The budget should keep the Indian budget in mind, as India and Nepal share an open border and share similar customs and traditions. The customs rate on materials not manufactured in the country should be decreased by five per cent. Tax on imported raw materials should be minimised.
— Mahesh Jaju, entrepreneur, Asian-Thai Foods