Private Sector Welcomes Tech, Energy Focus in New Budget; Experts Call for Deeper Reforms

Leaders from Nepal’s business community have largely welcomed the new budget for the fiscal year 2082/83, especially its focus on technology, energy, and private sector investment. Many say the budget reflects suggestions given by the business sector and aims to improve the economic environment during challenging times.

Karan Chaudhary, President of the NADA Automobiles Association, said the budget sends a positive message about the country’s economic direction. Ganesh Karki, President of the Independent Power Producers’ Association Nepal (IPPAN), appreciated the plan to support reservoir-based hydropower projects, calling it friendly to private investment. Executive Director of Nepal Rastra Bank, Guru Prasad Paudel, also highlighted the budget's emphasis on technology to boost the economy.

At a post-budget discussion held in Kathmandu by the Nepal Economic Journalists' Association, Deputy Prime Minister and Finance Minister Bishnu Paudel said the budget was prepared realistically and with serious homework. He added that if the budget is implemented effectively, it can help the economy grow.

However, not everyone was fully satisfied. Former Finance Minister Janardan Sharma criticized the budget for continuing old programs and failing to bring significant change or economic reform.

Vice Chairman of the National Planning Commission, Dr. Shivraj Adhikari, said the budget would likely take into account suggestions from both the opposition and private sector during implementation.

Other business leaders, including FNCCI President Chandra Dhakal, Nepal Chamber of Commerce President Kamlesh Agrawal, and former CNI President Bishnu Agrawal, agreed that while the budget is ambitious and development-focused, proper execution will be key to its success.