'Budget needs to be rational'

KATHMANDU:

Business people from across the country who had gathered in the Capital for the 49th annual general meeting (AGM) of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have urged Finance Minister Ram Sharan Mahat to bring a budget that can be implemented properly citing the government has been failing to spend development budget due to ad hoc allocation.

In an interaction with the finance minister on the sidelines of the FNCCI AGM, entrepreneurs urged Minister Mahat to collect suggestions from the district and municipal chambers while preparing the budget.

They also requested the finance minister to resolve the issues of mismatch that came to light during the investigation of Value Added Tax evaders some three years ago. Small and medium firms who have also been penalised in the mismatch case are seeking amicable solution and have said that the fines that are being levied are too high for such firms.

In the programme, Finance Minister Mahat assured them that the ministry would consult district and municipal chambers while preparing the budget. As per him, budget allocation will be scientific from next fiscal 2015-16.

“We will allocate budget only for works that can be completed within the fiscal,” said finance minister.

Source: THT