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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.
Nature of budget is the continuation of previous one
Baburam Bhattarai,
Former prime minister
I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.
One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.
Low budget for industrial sector
Madhav Kumar Nepal,
Former prime minister
The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.
Budget is positive
Bhawani Rana
President, Federation of Nepalese Chambers of Commerce and Industry
The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.
Doubtful on the stability of tax increment
Binod Chaudhary
Businessman
We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.
Policy wise, the budget is clear
Gyanandra Lal Pradhan
Treasurer, FNCCI
The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.
Encouraging local production is positive
Mohan Katuwal
President, Federation of Grill and Steel Association Nepal
Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.
Ambitious but optimistic
Hari Bhakta Sharma
President, CNI
We had demanded special programmes for the business sector in Nepal in order to create job opportunities.
The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.
Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.
Not as per the expectations
Gyanendra Bahadur Karki
Former finance minister
The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.
Budget's effectiveness depends on its execution
Babu Lal Chachan
Chairman, Chachan Group
The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.
The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.
Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.
In general, the budget can be taken positively.
Budget is average
Shyam Giri
President, Federation of Nepal Cottage and Small Industries
The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.
Not according to expectation
Pashupati Murarka
Former president, FNCCI
The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.
Socialist budget
Shekhar Golchha
Senior Vice-President, FNCCI
The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.
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'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'title' => 'Experts' views on Budget',
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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'title' => 'Experts' views on Budget',
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'summary' => 'Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.',
'content' => '<p>Following the announcement of budget in the federal parliament by Finance Minister Ybua Raj Khatiwada on Tuesday, May 29, here is the reaction from stakeholders in the field of politics and business.</p>
<p> </p>
<p>Nature of budget is the continuation of previous one</p>
<p>Baburam Bhattarai,</p>
<p>Former prime minister</p>
<p>I became a bit disappointed with the budget announcement. The government seems to have missed an opportunity to lead the country to prosperity despite having majority. It does not seem to address the expectations of the Nepali citizens in bringing about development and prosperity. In essence, the nature of the budget is the continuity of the previous one.</p>
<p>One of the indicators of development is empowerment of provincial and local levels. Development is impossible unless it is carried at the grassroots level. Only Rs 400 billion out of Rs 1300 billion has been allocated for the provincial and local levels.</p>
<p> </p>
<p>Low budget for industrial sector</p>
<p>Madhav Kumar Nepal,</p>
<p>Former prime minister</p>
<p>The country's economy will prosper if the budget is implemented. The budget is positive about development of infrastructure and education. But only Rs 10 billion has been allocated for the Ministry of Industry. The budget for industrial sector was much less than our expectation. We were hopeful that the budget for industrial sector would range from Rs 40 to 50 billion.</p>
<p> </p>
<p>Budget is positive</p>
<p>Bhawani Rana</p>
<p>President, Federation of Nepalese Chambers of Commerce and Industry</p>
<p>The budget has addressed the issue related to industry in local level, special economic zone (SEZ), and female empowerment. The tax system which has been introduced in the budget has to be studied. Some of our suggestions have been addressed in the budget. We welcome the steps taken to encourage export and discourage import in the business sector. There seems to be an improvement in the tax system and overall the budget looks positive.</p>
<p> </p>
<p>Doubtful on the stability of tax increment</p>
<p>Binod Chaudhary</p>
<p>Businessman</p>
<p>We are yet to analyse the budget of 2075/2076. The government has said that it will increase employment in the country and help to bring back the youths who have gone abroad to earn. Due to micro-level distribution of budget, we can’t comment on it right now. The tax has been increased but it is yet to see for how long it remains. The finance minister has announced the plans according to his principles considering the rules and regulations. We need to see if this is applicable in the real scenario.</p>
<p> </p>
<p>Policy wise, the budget is clear</p>
<p>Gyanandra Lal Pradhan</p>
<p>Treasurer, FNCCI</p>
<p>The budget has clear policies. I have been waiting for this kind of budget for many years. The budget is socialist. It has rightly encouraged the area which needs to be encouraged and discouraged the area which needs to be discouraged. The budget has a programme to introduce mega project in every province. According to the programme, the government will bring solar power in Province 2 and 500 Megawatts of electricity production in other six provinces. This will increase our GDP by six percent.</p>
<p> </p>
<p>Encouraging local production is positive</p>
<p>Mohan Katuwal</p>
<p>President, Federation of Grill and Steel Association Nepal</p>
<p>Analyzing the budget, it is overall good. We hope that it will be implemented well. The budget allocation for small entrepreneurs is a positive step. The provision to establish industries in local levels, provide loan to youths by keeping their certificates as collateral, promoting export and giving priority to female entrepreneurs are very much positive.</p>
<p> </p>
<p>Ambitious but optimistic</p>
<p>Hari Bhakta Sharma</p>
<p>President, CNI</p>
<p>We had demanded special programmes for the business sector in Nepal in order to create job opportunities.</p>
<p>The budget has acknowledged this issue but which programme and how much budget is allocated for the matter is yet to know. The challenge for the industries was acquiring land. Now the government has announced to establish industrial estate in all seven provinces of the country. This is a positive aspect of the budget.</p>
<p>Overall, the budget is ambitious but positive and the budget has addressed CNI's concerns.</p>
<p> </p>
<p>Not as per the expectations</p>
<p>Gyanendra Bahadur Karki</p>
<p>Former finance minister</p>
<p>The budget could not meet the expectation of the Nepali citizens though it comes at a time when there is political stability. This budget is just limited to slogan. It lacks clear direction to transform those slogans into reality. Although there are positive things, it seems to be out of track.</p>
<p> </p>
<p style="margin-left:-4.5pt"><strong>Budget's effectiveness depends on its execution</strong></p>
<p style="margin-left:-4.5pt"><strong>Babu Lal Chachan</strong></p>
<p style="margin-left:-4.5pt">Chairman, Chachan Group</p>
<p style="margin-left:-4.5pt">The budget announced by the government is much smaller in size than the hype the preceded it and aptly fits in the current context of the country. There were also rumours of increase in Value Added Tax but it has been maintained at 13 percent, which is quite positive.</p>
<p style="margin-left:-4.5pt">The budget has mentioned 5 percent subsidy to encourage export. The government has been poviding subsidies for export to third countries since a long time. However, such subsidies are also needed for export to India, which is one of the fastest growing economies in the world.</p>
<p style="margin-left:-4.5pt">Tax omission in education and health sector is also a positive side of the budget. Management and effectiveness of the budget depends on its execution.</p>
<p style="margin-left:-4.5pt">In general, the budget can be taken positively.</p>
<p><strong>Budget is average </strong></p>
<p><strong>Shyam Giri</strong></p>
<p><strong>President, Federation of Nepal Cottage and Small Industries</strong></p>
<p>The budget is overall average. It has included social sectors. It has also addressed the agriculture sector in a positive way and also addressed the micro-entrepreneurship. The micro entrepreneurs will receive income tax concession for five years, which is a positive aspect of the budget. The provision to provide Rs 700,000 loan to the unemployed youths with their academic certificate as collateral and Rs 1.5 million to the foreign employment returnees has opened new door for entrepreneurship.</p>
<p><strong>Not according to expectation </strong></p>
<p><strong>Pashupati Murarka</strong></p>
<p><strong>Former president, FNCCI</strong></p>
<p>The budget is like the continuity of the previous budgets and it has not met our expectation. We had expected that there would be lots of changes in the programmes but it is almost the same. Another point is that we cannot comment on the substitution of import right now. The government has announced changes in the tax rates, but we are yet to see the document. The income tax net has been expanded. The exit and entry of industries will be easy, and that is a positive point. The issue related to one-door system is raised every year but the implementation part is always lacking. Only 26 percent of the budget has been allocated for the capital expenditure and this is very less.</p>
<p> </p>
<p><strong>Socialist budget</strong></p>
<p><strong>Shekhar Golchha</strong></p>
<p><strong>Senior Vice-President, FNCCI</strong></p>
<p>The budget is socialist and it has addressed the problems and needs of the marginalized communities. The budget is positive. The suggestions of the private sector have been addressed. It is exciting to hear the facility of special economic zones (SEJ) in the budget. However, the challenging part is the implementation. Subsidy for industrial export has reached five percent. This is a very positive news.</p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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