By Karuna Thapa
Kathmandu, March 30
The budget for the fiscal year 2079/80, according to Finance Minister Janardan Sharma, would give the economy a new shape.
He was speaking in a large-scale economic debate hosted by the Nepal Economic Association, the Confederation of Banks and Financial Institutions Nepal, and the Ministry of Finance. He claimed that the budget will restructure the economy, stating that there is anxiety about the economy from various sides right now.
He stated that he wanted farmers to feel as if the budget had made its way into their fields. He also stated that the budget will be prepared in such a way that it would be owned by everyone.
He stated that concerns such as increased agricultural output, import substitution, job creation, effective management of labor skills, improvement in development spending, improved investment environment, private sector friendliness, and other issues will be prioritized in the budget.
He claimed that the percentage of exports in total international commerce has surpassed 10% in the first eight months of the current fiscal year and that there is no other option than to enhance production in the coming days to raise this figure further.
Exports reached a new high of Rs. 147.74 billion in the first eight months of the current fiscal year. This represents an increase of 82.90 percent over the previous year. He also requested suggestions on ways to lower the trade deficit.
He explained the economic decline to external forces, but also said that several economists had made negative remarks about themselves.
