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    • {"id":7699,"date":"2018-05-31T16:35:41","date_gmt":"2018-05-31T11:05:41","guid":{"rendered":"https:\/\/www.nepalisansar.com\/?p=7699"},"modified":"2019-06-11T15:13:00","modified_gmt":"2019-06-11T09:43:00","slug":"nepal-federal-budget-fy-2018-19-a-mixed-reaction","status":"publish","type":"post","link":"https:\/\/www.nepalisansar.com\/news\/nepal-federal-budget-fy-2018-19-a-mixed-reaction\/","title":{"rendered":"Nepal Federal Budget FY 2018-19: A Mixed Reaction"},"content":{"rendered":"

    After the successful elections envisaged by the constitution, Nepal saw another milestone in its history with the release of its first Federal Budget 2018-19 on May 29, 2018.<\/p>\n

    Nepal Federal Budget 2018-19<\/a> drew a mixed response from all sections of the society. While some called it \u2018unrealistic\u2019, some called it \u2018development-friendly\u2019 for the nation.<\/p>\n

    Let us look some of the responses to Nepal Federal Budget for the Fiscal Year 2018-19 pre and post release:<\/strong><\/p>\n

    \"KP-Sharma-Oli\"KP Sharma Oli, Prime Minister of Nepal, CPN-UML<\/strong><\/p>\n

    The Prime Minister is very elated and encouraged at the Federal Budget for FY 2018-19 his government presented in the Nepal Parliament on May 29, 2018. In a response, he said the budget has come as a support to the slogan of \u2018Prosperous Nepal, Happy Nepali\u2019.<\/p>\n

    \u201cThe budget has been introduced keeping with practical measures. It would lay the foundation for prosperous Nepal,\u201d he told the press. He said the tax net would be widened to meet the government\u2019s revenue targets.<\/p>\n

    \n

    \"SherSher Bahadur Deuba, Ex-Prime Minister of Nepal, Nepali Congress<\/strong><\/p>\n

    Meanwhile, the prime opposition to the ruling Nepali Government and the ex-PM Sher Bahadur Deuba termed the budget as \u2018difficult to implement\u2019. He says tax burden would hamper the growth in productivity.<\/p>\n

    \u201cTime has come for the government with two-thirds majority to walk the talk,\u201d he adds.<\/p>\n

    \n

    \"Gagan-Thapa\"Gagan Thapa, Law Maker, Nepali Congress<\/strong><\/p>\n

    NC Lawmaker Thapa takes a neutral stand saying the budget has neither gone against the public expectations nor taken any risk.<\/p>\n

    The politician and lawmaker of the opposition Nepali Congress party Gagan Thapa says the budget has neither gone against the expectations of Nepali public nor took any risk in the process.<\/p>\n

    \n

    \"NaraNara Bahadur Thapa, Executive Director, Nepal Rastra Bank (NRB)<\/strong><\/p>\n

    \u201cThe budget needs to introduce new programs to increase employment opportunities by promoting small and medium industries in particular,\u201d Thapa said speaking at a pre-budget session.<\/p>\n

    According to him, the central bank opines that the budget would add to the country\u2019s growth trajectory facilitating resource availability on a large scale, curtailing widening trade deficit, addressing concerns of tourism sector, among others.<\/p>\n

    \n

    \"ShekharShekhar Golchha, Senior Vice-President, Federation of Nepalese Chambers of Commerce & Industry<\/strong><\/p>\n

    \u201cReducing transit costs, developing infrastructure, retaining capable manpower in the country and reviewing the challenges that the country has been facing after joining the World Trade Organization are among other issues, which the government should address through the budget,\u201d Golchha said at a pre-budget session.<\/p>\n

    Productive sector has been facing threat due to the inefficiency of bank and financial institutions. Hence, the government, through the fiscal budget, and central bank, through monetary policy, must address the problems faced by the industrial sector, he adds.<\/p>\n

    \n

    \"GovindaGovinda Nepal, Former Member, National Planning Commission (NPC)<\/strong><\/p>\n

    Govinda wants the government to ensure required financial support and enhanced market access to the country\u2019s agriculture sector, along with a needed boost for the country\u2019s agriculture products to perform well in the international value-chain.<\/p>\n

    The government to ensure the country\u2019s farming community has timely access to the required agricultural inputs such as fertilisers and seeds, he adds.<\/p>\n

    \n

    \"RewatRewat Bahadur Karki, Chairman, Securities Board of Nepal (SEBON)<\/strong><\/p>\n

    According to Karki, the government should focus on capital markets to address the growing needs of resources to be invested in the country.<\/p>\n

    Stating that the government should come up with policies to boost Nepal\u2019s capital markets, Karki said, \u201cAs the country has entered a federal system, the initiative could help ease the dearth of capital.\u201d<\/p>\n

    \n

    \"GyanendraGyanendra Prasad Dhungana, President, Nepal Bankers\u2019 Association<\/strong><\/p>\n

    Gyanendra Prasad feels that there is a need to address asset-liability mismatch in the country\u2019s financial sector when it comes to long-term funding.<\/p>\n

    He says, \u201cthe problem can be solved to a large extent if the government waives taxes on long-term financing.\u201d<\/p>\n

    \n

    \"RameshworeRameshwore Khanal, Former Finance Secretary<\/strong><\/p>\n

    Commenting on the budget, Khanal opined that the Finance Minister might have realized that the distributive and populist programmes similar to that launched by past governments would not add to the country\u2019s prosperity.<\/p>\n

    Addressing that, the federal budget encouraged investment in the economy considering the factor that low investment\u2019s role as a major constraint for economic growth, he adds.<\/p>\n

    \n

    Let\u2019s hope the new budget will address the existing concerns and add to the nation\u2019s prosperity!<\/p>\n

    Also Read:\u00a0<\/strong><\/p>\n