Budget 2007-08: Expert comments
This budget is in line with the privatisation and liberal market economy, which is a great acceptance by the government that is led by the eight-political parties, including Maoists. The finance minister’s effort in bringing such a budget is an achievement in itself. It is the biggest challenge for the government also to implement it thoroughly. The legislative arrangement for this needs to be prompt. However, the government has still imposed excise on different heads which should go down. Apart from this the budget should have concrete tariff adjustment to neutralise cost of production. We have expected that the government would liberalise the import of raw material but the budget hasn’t addressed it. The budget has but tried to provide facilities to major manufacturing institutes like cement. The focus of the government on creating a violence-free highways is a breather for the entrepreneurs.
President, Young Entrepreneurs Council
The budget has focused on a lots of things but its all half-backed. There needs to be a clear vision on what the government is going to do, like the budget has mentioned about the Investment Board, which sounds familiar as we already have Investment Promotion Board (IPB). Are they separate institutes? If what is mentioned in the budget is to be believed, it is very encouraging to the investors, but its not clear.
The budget also has some new and positive ideas like provision of Export House. Like our economy earlier was called remittance economy the budget has envisioned it could be a Power Economy by exploiting the vast hydro power. The labourer issue is also not very clear in the budget. Similar is the issue of economic diplomacy.
However, time-bound decision and effective delivery can make this budget a success.
Surendra Bir Malakar
The budget is big in size. It is ambitious and implementation is difficult. The move to create safe industrial climate and investment promotion are some of the achievements of the budget.