• BIZ BRIEFS
KATHMANDU: The Confederation of Nepalese Industries (CNI) has presented budget recommendations to Finance Minister Prakash Sharan Mahat for the upcoming fiscal year 2023-24 with a focus on 'Prosperity from Adversity, Enhancement in Investment'.
CNI has put forward recommendations aimed at addressing the economic slowdown caused by the pandemic, and to facilitate recovery in affected countries, along with proposal of investment-friendly budget to further bolster economic growth. During the presentation of the budget suggestions, President of CNI Vishnu Kumar Agarwal emphasised the need to boost the economy amid the ongoing economic recession.
He highlighted the importance of increasing investments from both the government and private sector to achieve this goal with a proposed five-year investment plan, declaring the upcoming years as an investment year, and urged the government to prepare the budget accordingly. The CNI has recommended prioritising sectors such as industrialisation, export promotion and import substitution, promotion of indigenous production and market regulation, infrastructure development, innovation, domestic small and medium enterprises, business, energy, tourism, information technology, agriculture, and herbal industries in the upcoming budget.
A version of this article appears in the print on May 10, 2023, of The Himalayan Times.
