Fiscal Nepal
First Business News Portal in English from Nepal
Anjan shrestha FNCCI
KATHMANDU – The private sector has expressed cautious optimism over the national budget for fiscal year 2083/84, saying that while the overall direction appears encouraging, the real test will lie in its implementation.
Speaking to journalists at Singha Durbar after the presentation of the budget by Finance Minister Dr. Swarnim Wagle, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Federation of Nepalese Chambers of Commerce and Industry, Anjan Kumar Shrestha, said the budget seems to address several key concerns of the economy but requires closer review of its detailed provisions.
He said the private sector is “encouraged overall” by the budget’s direction, particularly its apparent focus on tax adjustments, agricultural promotion, infrastructure development, and new subsidy models.
“Overall, we are encouraged by what we have heard from the budget. However, we still need to go through the detailed provisions,” Shrestha said. “It appears the government has tried to address many issues, including a possible reduction in tax rates.”
He further noted that the budget includes efforts to promote agriculture, introduce a revised subsidy mechanism, and expand infrastructure investment.
Shrestha also remarked that the current government, which holds a two-thirds majority, appears more serious in its approach compared to previous administrations.
“Looking at it overall, the government seems more serious than before, and now the focus must be on implementation,” he said. “Unlike previous coalition governments, this is a majority government, and we expect it to deliver on its commitments.”
He added that the private sector expects the government to fulfill its promises, revive the sluggish economy, and restore investor confidence through effective execution of budgetary reforms.
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