Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Former Finance Minister Prakasharan Mahat, also serving as the spokesperson of the main opposition party Congress, has voiced sharp criticism against the recently presented budget, citing a lack of substantive reform initiatives.
Following Finance Minister Varshman Pun’s budget presentation, Mahat addressed the media at the Parliament House, expressing concern over what he perceives as a failure to address pressing economic challenges.
Mahat asserted that the budget fails to offer a comprehensive reform program, indicating that it falls short of effectively addressing the ongoing budget crisis. He criticized the budget as being detached from reality, emphasizing the absence of a clear roadmap for improvement.
Pointing out a perceived lack of focus and coherence in budget allocation, Mahat raised doubts regarding the timely completion of major projects. He highlighted the need for clarity on key issues and urged for a more strategic approach towards budgetary planning.
Moreover, Mahat questioned the efficacy of certain policy measures, such as the removal of VAT on essential commodities like apples, potatoes, and onions.
He argued that such actions may not necessarily benefit domestic traders as intended and stressed the importance of considering broader economic implications.
Expressing disappointment over what he views as a lack of prioritization and tangible outcomes, Mahat emphasized the importance of budgetary discipline and accountability. He cautioned that the envisioned goals outlined in the budget may not materialize without a concrete action plan.
Mahat concluded by suggesting that a thorough examination of the budget’s full text is necessary to provide further insights. He urged for a reevaluation of budgetary priorities and a concerted effort to translate policy intentions into tangible results for the benefit of the nation.
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