Contradictory to the expectation of many economists, Finance Minister Dr. Yubaraj Khatiwada has presented a budget undermining the economic reality of the country. Bowing down to the pressure of his party leaders, finance minister Dr. Khatiwada gave up his own stand and economic reality and reforms. At a time of depleting financial resources, Nepal needs to go for borrowing to pay the increased salary of government employees and social welfare allowances. Given declining productivity, increasing import and unpredictable weather and meager budget for development, achieving high growth of 8 percent will be unlikely.
By A Correspondent Jun 07, 2019
In the midst of these hiccups, government is expected to proceed with the annual works in a ritualistic fashion. Lots of crumbs spreading is likely to be seen in the budget, which is certain to be distributive\populist as there is tremendous demand coming from politicians for inclusion of populist programmes.Growth has to be achieved first then comes the question of who gets it, let us not forget. May the writers of the budget not forget that an opportunity for stable growth backed by strong domestic demand is in the offing?
By Dr. Tilak Rawal May 21, 2019