Nepali Congress General Secretary Bishwa Prakash Sharma has suggested nine points to the government to boost the existing crisis-stricken economy.
Sharma made these suggestions while deliberating on the principles and priorities of the budget program (appropriation bill) presented by the government in the parliament meeting for the upcoming fiscal year on Tuesday.
He said that the government should make extensive cuts in public expenditure in order to rescue the current troubled economy.
During his speech, he also suggested that the government be strict in controlling the collection, leakage and corruption.
Similarly, Sharma said that rather than reducing the size of the budget, laws, policies and strategies should be formulated in such a way as to increase capital expenditure.
Sharma floats nine points of advice
- The interest rate tension between government banks and businessmen should be resolved through monetary policy in coordination with the Nepal Rastra Bank.
- The budget should be prepared in a frugal manner so as not to fall into the debt trap.
- Reduce wasteful expenditure by identifying areas of unproductive and wasteful expenditure.
- Formulate laws, policies and strategies that increase capital expenditure rather than reducing the size of the budget.
- Formulate a comprehensive plan for production, consumption and trade of electricity to gradually reduce the trade deficit.
- Make plans and programs to inspire the studying youth to join agriculture with the determination to be self-sufficient in food.
- Ensure strict collection, control leakage and corruption.
- Bring an economic package of about two dozen laws that need to be repealed and reformed in consultation with the private sector.
- Study the report of the Public Expenditure Review Commission and abolish inefficient departments and redundant structures.
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