Ambitious budget

The Himalayan Times

3 June 2021

Ambitious budget

It looks like the budget for fiscal year 2021/22 is optimistic, considering the life of the government. However, the proposed budget looks impressive in terms of its effort to address the hardships faced by the people, difficulties faced by the students to attend on-line classes, grievances of senior citizens, financial difficulties faced by the medium and small enterprises and hotels and so on due to the COVID 19 pandemic “Government unveils RS 1.65tn budget for 2021-22” (THT, May 30, Page 1). 

 

Waiving taxes and charges on electric bills, water bills, licence and renewal fee for sectors such as films, handicraft, aviation, media, advertising, health clubs and among others should be appreciated for the government’s effort at giving relief to the people and to the COVID-19 battered industries. The government’s decision to waive the renewal fee and road tax on electric vehicles for the next five years to encourage the use of EVs deserves appreciation. Also, in an attempt to revive the badly battered tourism sector, the government’s decision to allow 10 days of paid leave to civil servants and free one-month visa to tourists is a welcome step.

For the first time, since the new constitution was drafted, the government has brought a budget through an ordinance. Of the total budget NPR 1,647.57 billion, NPR 678.610 billion has been allocated for recurrent expenditure and NPR 347 billion for capital expenditure. A much criticized program known as the “Pork barrel fund” that would allow federal lawmakers to spend upto 60 million on the projects they choose and design, has been  cancelled.

However, considering the poor implementation of the budget in the past, it is yet to be seen whether this government or any other future government will be able to fully implement the proposed plan and budget.  

Rai Biren Bangdel

Maharajgunj

 

For more details:

https://thehimalayantimes.com/business/government-unveils-nearly-rs-165tn-budget-for-2021-22