Constitution to grant economic liberty
KATHMANDU, May 8:
The ongoing constitution making process has adopted economic freedom as fundamental right when the state adopts an economic model for the country whether mixed economy, state-controlled or open market. The governments formed after the People’s Revolution-2006 have been inclined to adopt a mixed economy system introducing cooperatives as the third economic pillar after the public and private sectors.
We have included economic freedom as the fundamental right, said Rajendra Kumar Khetan, member of Natural Resources, Economic Rights and Revenue Sharing Committee of Constituent Assembly (CA) at a programme on Economic Perspective in New Constitution, here today. “Sustainable management, use of natural resources, economic prosperity and balanced development have been suggested in the preamble,” he said.
Natural Resources, Economic Rights and Revenue Sharing Committee of CA has envisioned the revenue mechanism of the federal set up of the country with different tax rights to the state, province and local bodies. Over all, the state should have right on 70 per cent of the tax and that is distributed to provinces with special consideration to weak provinces, said Khetan.
The committee has also included freedom of profession, right to food, right to housing, and right to employment as basic rights. Direction of the state economic policy is inclined to develop and build prosperous, balanced and inclusive economy eradicating economic anomalies and exploitation of resources.
Opinion varies on the state economic policy among entrepreneurs, economists and the people from other professions. Entrepreneurs favour on open market economy – economic liberalism while economists are inclined to have a mixed economy with a major role for the private sector. Private sector cannot agree on mixed economy or controlled economy, said Suresh Basnet, president of Nepal Chamber of Commerce (NCC).
Pradeep Jung Pandey, vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) was critical of the government’s inclination for mixed economy. “Why the country need socialism-orientated economy,” he asked.
Economist Prithvi Raj Legal urged the private sector not to fear a socialism-oriented economy. “It is perhaps to provide the state benefit to poor people,” he said. According to the government, one-fourth of the population is below the poverty line and the economic gap is widening between town and village dwellers, and rich and the poor. He said CA should adopt economic policy that focuses on villagers as the first beneficiary of economic policy and development programmes. Gopi Mainali, Joint Secretary of National Planning Commission said that economic rights should not overlap individual rights and should not be a burden on the state.
Source: THT
The ongoing constitution making process has adopted economic freedom as fundamental right when the state adopts an economic model for the country whether mixed economy, state-controlled or open market. The governments formed after the People’s Revolution-2006 have been inclined to adopt a mixed economy system introducing cooperatives as the third economic pillar after the public and private sectors.
We have included economic freedom as the fundamental right, said Rajendra Kumar Khetan, member of Natural Resources, Economic Rights and Revenue Sharing Committee of Constituent Assembly (CA) at a programme on Economic Perspective in New Constitution, here today. “Sustainable management, use of natural resources, economic prosperity and balanced development have been suggested in the preamble,” he said.
Natural Resources, Economic Rights and Revenue Sharing Committee of CA has envisioned the revenue mechanism of the federal set up of the country with different tax rights to the state, province and local bodies. Over all, the state should have right on 70 per cent of the tax and that is distributed to provinces with special consideration to weak provinces, said Khetan.
The committee has also included freedom of profession, right to food, right to housing, and right to employment as basic rights. Direction of the state economic policy is inclined to develop and build prosperous, balanced and inclusive economy eradicating economic anomalies and exploitation of resources.
Opinion varies on the state economic policy among entrepreneurs, economists and the people from other professions. Entrepreneurs favour on open market economy – economic liberalism while economists are inclined to have a mixed economy with a major role for the private sector. Private sector cannot agree on mixed economy or controlled economy, said Suresh Basnet, president of Nepal Chamber of Commerce (NCC).
Pradeep Jung Pandey, vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) was critical of the government’s inclination for mixed economy. “Why the country need socialism-orientated economy,” he asked.
Economist Prithvi Raj Legal urged the private sector not to fear a socialism-oriented economy. “It is perhaps to provide the state benefit to poor people,” he said. According to the government, one-fourth of the population is below the poverty line and the economic gap is widening between town and village dwellers, and rich and the poor. He said CA should adopt economic policy that focuses on villagers as the first beneficiary of economic policy and development programmes. Gopi Mainali, Joint Secretary of National Planning Commission said that economic rights should not overlap individual rights and should not be a burden on the state.
Source: THT
