As the time for budget presentation nears, people from different sections are waiting for the budget with a lot of excitement. People are directly affected by changes in all sectors of the economy. The government uses budget for presenting the estimated economic expenditure report for the forthcoming fiscal year. When the government announces economic policies through a budget, the process of sourcing and government expenditure affects the economy largely. However excellent the economic policies might be, as past experiences show, the nation is rarely able to attain the economic aims, as application of the policies remains minimum. To make economic policies more effective, the present system needs to be improved. The forthcoming budget should be concerned with solving problems of industries and entrepreneurs and protect small and medium scale industries for economic development. Reviving ailing industries, improving investment, creating employments and promoting the use of locally-produced goods should be on the agenda. Budget should also be concerned with promoting health, education, tourism and agriculture.

Keeping in mind the economic and industrial development of Pokhara, we can foresee that in near future the city roads will be absolutely congested. So it is essential that the construction of a ring road should be prioritised in the upcoming fiscal year. A permanent exhibition hall for exhibiting local products should be also prioritised. Conservation of Fewa Lake is essential for the tourism industry of Pokhara. Budget should also prioritise social upliftment of the ultra-poor, as it is the principle social responsibility of the government to help raise socially backward people. For this, the custom rate on items of daily use should be minimised. The commerce and industrial sector has given suggestions to the government through various chamber of commerce and industry for helping the government formulate the forthcoming budget. It is time to see how the government has used the suggestions. But we can believe that in a modern state, it is the duty of the King to provide service and facilities to the general people.

It will be appropriate to increase tax exempted personal income limit to Rs 100,000 and that of a family to Rs 150,000. In urban areas, there are a lot of transactions related to house rents. So it would be appropriate to bring this under taxation. The computer billing system should be prioritised. Similarly, companies registered under the Value Added Tax have to get verification from internal revenue office while trading in other districts. This has become very inept as this applies even when dealing with small quantities. An alternative should be suggested for this. Industrial estate and business houses, which are ailing because of the conflict, should be made sustainable with government protection. The government policy should protect the domestic industry, while giving incentives for export promotion.

—Rajendra Kumar Lalchan, Chairman, Chamber of Commerce and Industry, Pokhara