This year’s budget speech is just a continuation of the government’s policies and priorities. The budget does not include specific provision to re-energize the private sector to expedite the investment.
As we all know, the country is going through the problem of low capital expenditure. Our revenue collection is not even sufficient to meet the recurrent expenditure ceiling. In this context, the government should have paid more attention to make the economic sector vibrant and increase revenue mobilization. But this aspect is not addressed in the budget speech.
The country needs some visible efforts to reignite economic activities. At present, most of the sectors are witnessing slowdown and this situation must be ended. The budget also seems to have overlooked the economic reality of the country.
Provisions related to the development of Madhesh province are also mostly a continuation of the previous year’s activities. Nepal’s current economic slowdown cannot be reversed without collective efforts and more liberal and decisive moves by the government.
Sah is president at Siraha Chamber of Commerce and Industry.
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