Kathmandu, May 17
The government has announced that the
budget of the coming fiscal year 2022/23 would give priority to 10 sectors
including agriculture, industry, infrastructure including energy, tourism,
social security and climate change.
Industrial development and promotion of
private sector, revival of tourism, utilising the demographic dividend,
international relations and partnership, and climate change and disaster
management will also be the foundation of the next year's budget.
Presenting the 'Principles and Priorities
of the Appropriation Bill, 2022', at the Federal Parliament on Tuesday, Finance
Minister Janardan Sharma 'Prabhakar' said that the thrust of the budget would
be rapid economic growth and balanced progress supported by infrastructure
development.
"For this travelling time would be
brought down with the improvement in road infrastructure. All weather road will
be constructed to connect each local level with the national highways. Private
sector will be roped in infrastructure development as per the public-private-partnership
model," said FM Sharma.
Budget will also include policies and
programmes for the development of tunnels, expressways, terminals in airports
and completion of national pride projects.
Support to industrial development
Likewise, it will aim at increasing the
contribution of the industrial sector to the national economy. For this,
industrial zones and villages under construction would be completed in time and
operated. Minister Sharma said that the private sector would be promoted as the
engine of economic growth, and favourable policies and programmes would be
formulated to support industrial development, Foreign Direct Investment, micro,
cottage and small industries, and establish industrial zone in partnership with
the private sector.
FM Sharma expressed concerns over the
ever-increasing trade deficit and mentioned it as the greatest challenge to the
economy.
Similarly, irrigation facility would be
expanded to utilise all arable land across the country, access of farmers to
market would be enhanced and contract farming would be promoted for the
development of agriculture sector. Agricultural research, availability of
inputs and technical support, and access of farmers to financial instruments
are the priority areas in this regard.
For the development of the energy sector,
resources would be managed for the construction of large and reservoir-based
hydroelectricity projects, and energy would be provided to every household in
the country through the development of micro, medium hydroelectricity projects
and renewable energy. Energy infrastructure like transmission line and
substation are in priority.
Revival of tourism
Tourism, the sector severely-hit by the
COVID-19 pandemic, has got special mention in the government priorities for the
upcoming budget and FM Sharma has mentioned that priority would be given to
attract external tourists and promotion of internal tourism. Programmes will be
implemented to revive the tourism business, and develop religious, cultural,
adventure, entertainment and eco-tourism activities. Conservation of
archaeological heritages and development of quality human resources are also in
the priority.
Likewise, programmes will be announced to
create employment opportunities for the active human resources. For the
utilisation of the demographic benefit, sill-based training and capacity
building programmes would be designed.
The budget would also be focused to ensure
the access of people to basic health services. For this, programmes for the
development of health infrastructure, health system, human resource and reform
of health insurance will be announced. Improvement of the quality of education
facilities and programmes will be included in the budget.
Integrated social security
FM Sharma also said that the programmes of
social security will be operated in an integrated way and focus will be given
to minimize income inequality. Similarly, balanced diplomatic relations with
all friendly nations, promotion of economic diplomacy, strengthening of Nepal's
presence at the international forums, and sustainable development of forest
sector as well as climate change mitigation programmes are in priority.
Stating that the budget will be focused on
the creation of the self-reliant economy by increasing the production of basic
consumer goods through the promotion of agriculture and industrial sector, FM
Sharma mentioned that export promotion and import substitution would be the
major theme.
Allocation efficiency
He also tried to strike on the chronic
problem of budget underutilisation and said that allocation efficiency and
institutional capacity would be enhanced and fiscal discipline would be
maintained. "Budget would be proposed only for the projects that are
economically and technically feasible," said the Minister.
According to him, common minimum programme
adopted by the government, fifteenth Periodic Plan, Sustainable Development
Goals and Constitution have been the major guidelines while developing the
principles and priorities for the budget. Likewise, poverty-hit Karnali, Madhes
and Sudurpaschim provinces, deprived, Dalits and marginalised people are also
taken into consideration.
Published in The Rising Nepal daily on 18 May 2022.
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