Parsa. Birgunj: Industrialists and entrepreneurs of birgunj have said that the budget for the upcoming fiscal year 2082/83 BS is encouraging the opening of new industries. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel, while presenting the budget for the upcoming fiscal year 2082/83 BS in the joint sitting of the federal parliament on Thursday, said that the industries licensed to set up new industries in special economic zones and industrial zones would be exempted from rent for the first three years.
“The monthly rent of special economic zones will be reduced from Rs 20 per square metre to five,” the finance minister said in the budget presented by the finance minister.
Birgunj Chamber of Commerce and Industry President Hari Gautam said the budget has given hope to the private sector as a whole. “The budget has not come as we expected. However, efforts have been made to address some of the demands of industrialists,” he said. Chairman Gautam said that the decision to abolish advance income tax on customs was positive. “Earlier, importers had to pay 2.5 per cent advance income tax,” he said. He said the government has done a positive job by not increasing the overall tax rate.
“The government has not increased the tax on electric vehicles through the budget for the upcoming fiscal year should be taken positively,” gautam said. Finance Minister Poudel has welcomed the government’s decision to keep all taxes and duties imposed on electric vehicles unchanged in the upcoming fiscal year’s budget to reduce environmental pollution and increase domestic consumption of electricity by encouraging the use of electric vehicles.
Economist Dipendra Kumar Chaudhary, who has been working in Birgunj, said that the idea of moving ahead by keeping the private sector in the role of the main driver of prosperity in the budget for the fiscal year 2082/83 BS is positive. “Priorities including entrepreneurship, employment, production and productivity enhancement, expansion of investment in quality physical infrastructure, qualitative improvement in social sector, balanced development and ensuring social security in the upcoming fiscal year’s budget have raised hopes that company registration and exit from a single point will further help in boosting the private sector,” he said. ’
Economist Chaudhary said that the arrangement of carrying out all the works from the registration of the company to the exit from a single point is welcome. He said that the legal provision that allows Nepali citizens to take sweat shares for providing technology or knowledge or services of a specific nature to foreign companies through this budget is also commendable.
Economist Chaudhary said that in the budget for the fiscal year 2082/83 BS, the idea of moving ahead by keeping the private sector in the role of the main driver of prosperity is positive. “Priorities including entrepreneurship, employment, production and productivity enhancement, expansion of investment in quality physical infrastructure, qualitative improvement in the social sector, balanced development and ensuring social security in the upcoming fiscal year’s budget have raised hopes that company registration and exit from a single point will further support the private sector,” he said. In the budget for the upcoming fiscal year, it has been mentioned that the amlekhgunj lothar petroleum pipeline expansion and storage site construction will be carried forward.
Similarly, the process of construction of Nijgadh International Airport will be forwarded using alternative development finance. According to the budget statement, integrated management of the catchment area will be done to make the water cycle of Chure and Tarai Madhes sustainable.
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