Kathmandu. Nepal Chamber of Commerce (NCC) has presented the budget for the coming fiscal year 2083\/084 BS. Swarnim Wagle has submitted a suggestion. A team led by NCC President Kamalesh Kumar Agrawal reached the Ministry and presented policy suggestions to make the overall economy dynamic. <\/p>\n
Expressing the view that the budget should be private sector-friendly, production-oriented and investment-encouraging, it urged the government to prioritise economic stability, good governance and business-friendly environment. The NCC presented its views covering agriculture, tourism, industry, information technology, energy, foreign investment, export promotion and tax system reform, among others. <\/p>\n
Likewise, modernization of agriculture sector, expansion of concessional loan and market access, infrastructure development and international promotion in tourism sector, reduction in production cost in industry and process easement, tax exemption in information technology and expansion of digital infrastructure, promotion of private investment in energy sector and development of hydropower should be accelerated. Likewise, the bill calls for simplification of tax system, implementation of one-door system, promotion of export and promotion of ‘Made in Nepal’ products. <\/p>\n
The Chamber has suggested that initiatives for modernization and mechanization should be taken keeping agriculture in top priority in the upcoming budget and for making arrangements for investment in agriculture production by adopting policy for utilization of barren land. <\/p>\n
The Chamber has suggested to the Ministry of Finance that a policy of providing subsidy to export trade on the basis of value addition should be adopted and export subsidies should be provided to exporters in a simple and easy manner under a one-door system. Similarly, domestic investment will be encouraged to utilize the skills and skills of those returning from foreign employment. For this, all the details of the skills and skills of those returning from foreign employment should be recorded in the Department of Immigration. <\/p>\n
The chamber has suggested that a policy should be brought to encourage the remittances to invest in energy and other infrastructure sectors in the context when most of the remittance money coming into Nepal is being spent only in consumption. Similarly, the Chamber has suggested that there should be a policy arrangement to provide permanent loans to the cottage, small and medium enterprises at a fixed interest rate. Stating that a one-door system should be implemented between the 3 tiers of government in all types of taxation, the chamber said that the double taxation criteria should be abolished. <\/p>\n
The chamber has said that the online database system should be made effective in the evaluation determined by the World Trade Organization. Stating that it was very difficult to implement the MRP level in the case of imported goods as the country is dependent on imports for most of the consumer goods, the NCC said that the MRP should be implemented only on the basis of all-party discussion and consensus with the concerned bodies. <\/p>\n
On the occasion, Finance Minister Wagle said that the government has already taken several steps for economic reforms. Stating that the Department of Revenue Investigation has already been scrapped and there is a plan to reduce the tax rate, he said it was necessary to increase revenue, create employment and expand the size of the economy. <\/p>\n
Minister Dr. Stating that the government was moving ahead to create environment conducive for all to work by adopting liberal policy, Wagle expressed the hope that the upcoming budget would encourage business persons and the general public. He also pledged to incorporate the constructive suggestions received from the private sector in the budget formulation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nepal Chamber of Commerce (NCC) has presented the budget for the coming fiscal year 2083\/084 BS. Swarnim Wagle has submitted a suggestion. A team led by NCC President Kamalesh Kumar Agrawal reached the Ministry and presented policy suggestions to make the overall economy dynamic. Expressing the view that the budget should be private sector-friendly, […]<\/p>\n","protected":false},"author":9,"featured_media":297052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45159],"tags":[],"class_list":["post-297054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/297054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=297054"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/297054\/revisions"}],"predecessor-version":[{"id":297055,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/297054\/revisions\/297055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/297052"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=297054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=297054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=297054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}