Budget positive but challenging for implementation: NCC

KATHMANDU: Nepal Chamber of Commerce (NCC) has observed that the budget for the fiscal year 2022/23 is positive but challenging for implementation. Issuing a press statement, NCC has said there are several positive points in the budget Finance Minister Janardan Sharma presented in the Federal Parliament on Sunday. The budget size (Rs 1.79 trillion) is huge. It is not based on reality, NCC argued. NCC further argued that making budget huge on the one hand but lacking the capacity to spend is worrying. The spending capacity was slow off of the mark because structural reform has not been made for it. It will be difficult to achieve the target of 8% economic growth rate. The liquidity problem has not been solved yet and capital spending is meagre, said NCC. It however said the utilisation of barren land is an important priority to boost agriculture. The plan to establish agriculture micro finance fund of Rs 500 billion to promote agriculture is a positive step, NCC said. Similarly, creation of industry-friendly atmosphere within the country and concession for industrial operation are other positive moves, NCC stated in the press release. It was challenging for the government to collect the revenue of Rs 1,240 billion, according to NCC. READ ALSO:

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