Experts take on budget fy2018/19

Budget directed toward increasing agri productivity

- Yamuna Ghale, Agriculture, food, and gender analyst

I see the budget in a positive way. It emphasizes on agriculture by highlighting the government’s plans to prioritize organic farming, quality control of edibles and agricultural products along with establishment of agricultural knowledge centre at provincial level. The government has also prepared a budget that is more directed toward increasing agricultural productivity. Moreover, the budget is based on the policy and programs that the government brought earlier. So, this reassures us that the government will work on the ideas and policies that it put forward before. The government has also given emphasis to women entrepreneurship and empowerment by reducing duty and taxes. The budget has allocated funds for local and provincial governments as the local authorities are more aware of the existing problems and requirements of their respective areas. It seems that the government is focusing on proper decentralization of power and also funds.

Continuation of Constituency Development Fund not a wise move

- Uma Shankar Prasad, Associate Professor at TU

There are both strong and weak aspects of the budget. Firstly, the decision to provide Rs 40 million to Parliamentary Development Fund is not a good idea. Rather, more money should have been allocated for local and provincial governments. Also, the target to achieve 8 percent economic growth rate does not look gettable. Regarding the plus points of the budget, the government has emphasized much on employment by introducing Prime Minister Employment Program. Furthermore, the government is much focused on progressive taxation system.

New industrial villages will help expand manufacturing sector

- Bhawani Rana, President of FNCCI

I believe that the budget has equally prioritized agriculture, energy, infrastructure and tourism sectors. It has given special emphasis on minimizing imports and has also pledged to help expand sugar, cement and iron rod industries to name a few. The budget is also aimed at providing skill-based training to the unskilled which can create new job opportunities. Also, it is more focused on industrial development of the country for the budget has pledged to clear the hurdles of starting businesses and industries that are currently into play. We are yet to analyze the effect of new tax policies that the government is bringing from the next fiscal year. Establishment of industrial estates and centers is set to help expand the country’s manufacturing sector. The government seems equally focused on building infrastructure related to tourism and transform agriculture by modernizing it.

Implementation holds the key

- Surendra Labh, Professor at Ram Swaroop Ram Sagar Multiple Campus

I would say that the budget is not so bad. Upon first look, I see that the budget size has not increased much despite of the fact that the country has adopted federal set up. The budget is thus pretty well-balanced. Due to the Finance Minister’s White Paper and the government’s policy and programs, the way the budget was presented was pre-projected and there was not much surprise. As the budget has increased dearness and uniform allowance, this has sent a good message among civil servants. The most important aspect of this budget, in my opinion, is the fact that the government has taken a firm stance to implement federalism. The government has taken different indicators such as province-wise Human Development Index into consideration before preparing the budget. The budget seems to have been prepared after lot of homework as budget size has not increased much in the federal set up. I am more concerned at the implementation aspect. If the government fails to implement it effectively, there is a chance that the government will fail.

Budget more inclined toward meeting people’s basic needs

- Sumitra Amatya, Former member of the National Planning Commission

The budget looks very balanced. However, something that concerns me is the fact that the budget emphasizes more on transportation and energy sectors. It does not seem as focused toward infrastructure development as, for me, it is one of the pillars for economic development. Moreover, I feel that the budget is more inclined toward meeting people’s basic needs which is good as economic development is not possible if one cannot feed themselves. However, the private sector seems to be at the receiving end due to rise in taxes. I believe that the government should have been friendlier toward the private sector as it is also an important part of the country’s economy. The government seems to have a good direction toward industrial sector and I welcome its plan to establish industrial estates at the provincial level.