Kathmandu. Nepali Congress spokesperson Dr. Prakash Sharan Mahat has said that there should be no delay in the appointment of the Governor of Nepal Rastra Bank.
At a special dialogue program on ‘Priorities of the Upcoming Budget’ organized by BP Think Tank and Parliamentary Studies and Development Foundation today, Dr. Mahat, who is also a former Finance Minister, expressed the view that a qualified and professional person should be appointed as the Governor without any political bias.
‘The delay in the appointment of the Governor is unfortunate,’ said spokesperson Dr. Mahat. ‘A person who works with an absolute sense of economy at the center should be appointed as the Governor.’
Emphasizing that the budget for the upcoming fiscal year should be balanced and disciplined, spokesperson Dr. Mahat said, ‘The budget is a statement of income and expenditure for the year. The budget should be allocated based on income and expenditure, ensuring resources, and our needs and priorities.’ He said that monetary policy and fiscal policy should be brought into harmony.
Spokesperson Dr. Mahat suggested that the budget should be managed in a way that reduces administrative expenses and increases capital expenses. Presenting an example of a large budget being brought to show this, he said, ‘There should be certainty of income sources. Capital expenses should be increased, so the budget should be disciplined, not popular. The budget should be made on the basis of prioritization.’
He said that the budget should give priority to social security, education, tourism, information technology, productive sectors, etc. Nepali Congress leader Deep Kumar Upadhyay stressed that the upcoming budget should prioritize improving the country’s current economic situation.
He said, ‘The country’s economic situation has become flexible. Expenditure is more than income to properly utilize resources. Expenditure has to be met through debt, the budget should pay attention to improving this situation.’ Former Vice Chairman of the National Planning Commission, Prof. Dr. Govinda Raj Pokharel, said that the budget should be allocated in a way that the areas that give returns and the main infrastructure are completed.
‘Investment should be made in capacity development, investment should be increased in large water-bearing projects,’ he said. ‘The budget should prioritize issues such as import substitution and stopping wasteful spending by creating an environment friendly for private sector investment.’
Former Vice Chairman of the National Planning Commission, Dr. Pushparaj Kandel, pointed out that policy and structural reforms are necessary to put the economy on the right path. ‘The budget mechanism has been weakened due to structural problems,’ he said. ‘Investment should be made in priority projects through the budget. Priority should be given to improving the quality of education and promoting agricultural production.’
Former Governor of Nepal Rastra Bank, Dipendra Bahadur Chhetri, said that the budget is traditional and emphasized that priority projects should be included to make the economic sector dynamic. He suggested that the budget should be balanced to ensure resources and investment in infrastructure.
Executive Director of the Health Insurance Board, Dr. Raghuraj Kafle, said that the budget should be brought in a way that addresses development indicators. He suggested that the spending capacity should be increased to ensure social security and encourage the private sector by increasing the capacity to spend capital.
Institute Chairman Haribol Bhattarai pointed out the need for spiritual knowledge and ethics in political leadership. Rudra Sharma, General Secretary of the Parliamentary Studies and Development Establishment Committee, opined that the budget should be presented in a realistic and factual manner.
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