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June 1: The budget announced for the Fiscal Year 2018/19 is a “weak budget by a strong government” despite positive expectations from the private sector, according to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
“The budget presented by the government is underwhelming. The budget announced by the newly formed strong government doesn’t encourage the private sector,” according to the office bearers of FNCCI.
The FNCCI members also said that it is very difficult for the government to create 500,000 jobs in the next fiscal year, and achieve an economic growth rate of eight percent.
According to Bhawani Rana, president at FNCCI, the budget didn’t focus on encouraging private sector for increasing productivity.
“To achieve the targeted economic growth, it is necessary for the government to reduce the ballooning trade deficit by increasing productivity and by encouraging the private sector,” Rana said.
“Some of the points of the budget are to be welcomed, but the government has ignored the private sector. Productivity won’t increase unless government promotes investment. And, achieving targeted growth and creating new employment opportunities are impossible without investing in the productive sector,” she added.
Likewise, Shekhar Golchha, senior vice-president of FNCCI, said that the budget of the newly formed government didn’t address the problems and challenges of the economy.
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<p>“To achieve the targeted economic growth, it is necessary for the government to reduce the ballooning trade deficit by increasing productivity and by encouraging the private sector,” Rana said.</p>
<p>“Some of the points of the budget are to be welcomed, but the government has ignored the private sector. Productivity won’t increase unless government promotes investment. And, achieving targeted growth and creating new employment opportunities are impossible without investing in the productive sector,” she added.</p>
<p>Likewise, Shekhar Golchha, senior vice-president of FNCCI, said that the budget of the newly formed government didn’t address the problems and challenges of the economy.</p>
<p> </p>
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'summary' => 'June 1: The budget announced for the Fiscal Year 2018/19 is a “weak budget by a strong government” despite positive expectations from the private sector, according to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).',
'content' => '<p>June 1: The budget announced for the Fiscal Year 2018/19 is a “weak budget by a strong government” despite positive expectations from the private sector, according to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</p>
<p>“The budget presented by the government is underwhelming. The budget announced by the newly formed strong government doesn’t encourage the private sector,” according to the office bearers of FNCCI.</p>
<p>The FNCCI members also said that it is very difficult for the government to create 500,000 jobs in the next fiscal year, and achieve an economic growth rate of eight percent.</p>
<p>According to Bhawani Rana, president at FNCCI, the budget didn’t focus on encouraging private sector for increasing productivity.</p>
<p>“To achieve the targeted economic growth, it is necessary for the government to reduce the ballooning trade deficit by increasing productivity and by encouraging the private sector,” Rana said.</p>
<p>“Some of the points of the budget are to be welcomed, but the government has ignored the private sector. Productivity won’t increase unless government promotes investment. And, achieving targeted growth and creating new employment opportunities are impossible without investing in the productive sector,” she added.</p>
<p>Likewise, Shekhar Golchha, senior vice-president of FNCCI, said that the budget of the newly formed government didn’t address the problems and challenges of the economy.</p>
<p> </p>
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