•      Mon May 20 2024

Budget incorporates policies and programmes: Minister Pun

Barshaman Pun

Kathmandu, May 15: Finance Minister Barshaman Pun has said the budget would come in line with the policies and programmes presented yesterday.

During an interaction organized by FNCCI on the government policies and programmes for the fiscal year 2081/82 here Wednesday, Minister Pun reminded that the government had aimed at increasing production, and employment, and improving the internal economy.

“Forthcoming budget will incorporate policies and programmes. Similarly, the monetary policy will also align with budget,” he informed, adding that the government wants viable suggestions from the private sector.

The Minister committed to addressing problems facing the manufacturing and development sector. He assured that payment to construction contractors will not be stalled.

“Government is both guardian and torchbearer. Government is watching others and it is also being watched by others,” he said, admitting that some multi-year projects had witnessed problems.

Realizing the role of agriculture, policies, and programmes, the development of infrastructure is given equal attention to prop economic activities.
The Minister further said widening the tax net is better than increasing tax.

President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, urged the government to bring a budget bearing in mind the resources and capacity of the State which is capable of transforming the economic scenario.

He said the private sector wishes that the budget could contribute to a durable and high economic growth, leading to the transformation.

The FNCCI advised the government not to increase the size of the budget. Similarly, the FNNCI wanted the government to conclude the sovereign credit rating, implement the bilateral investment agreement, ensure a facility for a free multi-year (at least for three years) visa for potential investors, and implement the concept of a one-stop service center effectively.

It has also urged the government to identify the viability gap fund and provide its facilities,

The Federation wants the government to gradually reduce income tax for production-based industries, and a 40 percent discount in income tax for tourism and IT industries.

It has sought the facility of re-loan for cottage and small industries and women entrepreneurs, promotion of domestic products and their consumption, and operation of the start-up programs. #Rss