As Finance Minister Barsha Man Pun prepares to unveil the upcoming budget amidst high expectations from Nepal’s youth and economic challenges, economic experts have urged a balanced and targeted approach. During a consultation organized on Thursday, ahead of the next year’s budget, experts emphasized the need to prioritize key sectors such as agriculture, tourism, energy, and information technology (IT).
The economic gurus stressed the importance of allocating budgetary resources to well-prepared projects, underscoring the urgency of job creation for the nation’s youth. Their suggestions came as the Finance Minister acknowledged the need for bold decisions to meet the aspirations of Nepal’s youth while navigating economic pressures.
Boosting Private Sector Confidence and Job Creation
Minister Pun assured the private sector that the government would take crucial decisions to boost their morale and foster a collaborative environment. However, he admitted that stringent policies had to be adopted due to economic pressures, necessitating a careful balance with the private sector’s demand for relaxed policies.
“Especially youths have hoped much from the government at a time when the economy is under pressure. Time has come for bold decision,” Pun reminded the gathering.
Experts’ Recommendations for Key Sectors
Among the esteemed experts who provided valuable suggestions were:
- Dr. Resham Thapa, Chief of the Department of Economics at Tribhuvan University
- Dr. Ram Prasad Gyawali, former Chief of the Department of Economics
- Dr. Bijay Paudel, economist and CPN (Unified Socialist) leader
- Krishna Ghimire, former Finance Secretary
- Govind Timilsina, economist at the World Bank headquarters
- Prof. Dr. Shiva Bhusal, former Rector at Tribhuvan University
Their collective wisdom emphasized the need for a focused budget that prioritizes key sectors vital for Nepal’s economic growth and job creation.
Continuity and Bold Decisions
The Finance Minister assured that changes in ministers would not lead to policy shifts, promising to continue the best practices of previous governments. He acknowledged the need for bold decisions to meet the high expectations of Nepal’s youth while navigating economic challenges.
As Nepal gears up for the unveiling of the upcoming budget, all eyes will be on the government’s ability to strike the right balance between bold initiatives and fiscal prudence, addressing the aspirations of the nation’s youth while fostering sustainable economic growth.
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