$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Dr Chiranjibi Nepal is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. Excerpts:
To what extent do you think the current budget will boost the economy of Nepal?
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year.
Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent?
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable.
What major policy changes did the government miss to address in this year’s budget and why?
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now.
This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this?
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial.
In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse?
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years.
Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this?
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward.
The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think?
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community.
While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy?
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed.
A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs?
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '1545',
'article_category_id' => '134',
'title' => '‘This Budget Supports A Liberal Economy’',
'sub_title' => '',
'summary' => null,
'content' => '<div>
<span style="font-size: 12px;"><strong><img alt="Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance." src="/userfiles/images/Dr%20Chiranjibi%20Nepal.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 188px;" />Dr Chiranjibi Nepal </strong>is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. <strong>Excerpts: </strong></span></div>
<div>
</div>
<div>
<strong>To what extent do you think the current budget will boost the economy of Nepal? </strong></div>
<div>
The country’s economy has suffered badly whenever the budget was presented late. After six long years, the government came up with a full-fledged and timely budget concentrating on core areas such as energy, agriculture, infrastructure, education and health. I believe that the timely announcement of the budget is a very positive sign for development and can boost the economy largely. The government has also aimed for a growth rate of 5.5 per cent which is certainly going to be achieved with the budget of the current fiscal year. </div>
<div>
</div>
<div>
<strong>Given that the growth rate recorded for the past 10 years has been 3.7 per cent in average, how realistic is this year’s target of 5.5 per cent? </strong></div>
<div>
Late budgets in the past have affected capital expenditure to a large extent. The current budget has taken initiatives which could stimulate the flow of capital expenditure and improve economic activities. The current budget has also addressed important social and economic issues and is advocating for a stronger role of the private sector to spur the economy. In this regard, we can say that, with proper implementation of the budget, 5.5 per cent growth target is achievable. </div>
<div>
</div>
<div>
<strong>What major policy changes did the government miss to address in this year’s budget and why? </strong></div>
<div>
I don’t think the budget has missed addressing any important issue. The budget as a whole is inclusive as it has considered every sector - social, economic, infrastructure and business. This budget supports a liberal economy. It also encourages the private sector to take the lead. Considering these things, there are not many changes that have to be made for now. </div>
<div>
</div>
<div>
<strong>This budget has brought a number of populist programmes to serve certain political parties. What is your comment on this? </strong></div>
<div>
I disagree with the statement that the government has brought populist programmes. It has brought programmes that are for everyone. Unlike previous years, the current budget has been least criticised. At the macro level, the budget has brought a long term programmes which is a must to boost the economy. Similarly, the budget focuses more on the private sector. Therefore, the budget is not controversial. </div>
<div>
</div>
<div>
<strong>In hydropower, the budget allocation for transmission lines is largely from donors. The government did not set aside anything for land acquisition. Why this lapse? </strong></div>
<div>
Yes, to some extent there have been lapses but it is being corrected. The budget allocation for land acquisition is still being processed and the government is contributing to this purpose. The budget has emphasised energy sector with belief in its importance to uplift the economy. The government is concerned about the land acquisition issue and is on the move to provide maximum support. The government plans to eliminate the chronic problem of power outage within the next three years. </div>
<div>
</div>
<div>
<strong>Private sector hydropower developers have expressed dissatisfaction since the budget has not provided incentive for private power producers. What are your comments on this? </strong></div>
<div>
We have to understand that the environment being created for hydropower is itself an incentive. The budget has allocated a huge sum for the energy sector which is also a form of incentive. This has initiated an environment for investment in energy which can later bring profit to the private sector. But merely arranging a budget cannot bring about desired results if not backed by effective implementation. Thus, the government is committed towards effective implementation of programmes that have been put forward. </div>
<div>
</div>
<div>
<strong>The budget has Rs 300 million allocated for export incentives which the private sector says is peanuts. What do you think? </strong></div>
<div>
Export depends on competition with other countries. To present Nepal as a competitor, the amount allocated for exports is sufficient and very convenient in our context. The private sector has expressed satisfaction in the budget stating that it has attempted to address most of the concerns raised by the business community. </div>
<div>
</div>
<div>
<strong>While the budget speech mentions a deficit of Rs 87.7 billion, budget documents prepared by the Ministry of Finance caps deficit at Rs 40.5 billion. Why such a huge discrepancy? </strong></div>
<div>
There has been a misunderstanding about the budget deficit. The exact figure for deficit is Rs 87.7 billion. To balance it, the new budget attempted to incorporate limited number of new programmes that are necessary to encourage exports, generate energy and boost the morale of the private sector. In order to improve Nepal’s export performance, various issues on the domestic and international fronts have to be addressed. </div>
<div>
</div>
<div>
<strong>A lot of money is allocated clandestinely for financing the losses of public enterprises (PEs). Why can't the government allocate funds openly for PEs? </strong></div>
<div>
Public enterprises are incurring losses. To overcome this problem, we are trying to search for partners in Nepal Telecom and Agricultural Development Bank. For other public enterprises, we are preparing to change their structure and to take them towards privatisation. There is a policy to carry out such activities. We are also closing down some enterprises which cannot earn profit and cannot sustain for long.</div>
<div>
</div>',
'published' => true,
'created' => '2013-08-04',
'modified' => '0000-00-00',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Dr Chiranjibi Nepal,Chief Economic Advisor at the Ministry of Finance shed light on the nature of the budget for FY 2013-2014.',
'sortorder' => '1406',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '1545',
'hit' => '414'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Dr Chiranjibi Nepal is Chief Economic Advisor at the Ministry of Finance. In an interview with Sweta Sharma of The Corporate weekly, he shed light on the nature of the budget for FY 2013-2014. Excerpts: 
