Budget Watch: Series 2

Nepal has long been suffering from economic and industrial unrest.
On the one hand, people's aspirations have gone too high to be included within the framework of economy and social justice while on the other because of unrest the industrial sector is unable to sustain employment needs.
We have been long talking about a clear departure from traditional economy to an economy of comparative and competitive advantage.
Now, Nepal has entered a new political phase and it is time that we take radical steps so that the economy can take off and become self-driven. Again, this is possible only through understanding on Minimum Economic Agenda (MEA) on common ground.
This budget could be the first step towards that direction. We are trying to advocate a caucus group within the present Constitutional Assembly & Legislative Parliament.
Here are some measures that could help the economy to take off:

* Time-bound One-Window mechanism for the industrial sector so that it doesn't have to wait for years and run around from one ministry to another to attrack investments.
* One-Window committee to back Nepal Electricity Authority to allow fast track decisions for new hydro projects.
* Open up new sectors in tourism like white snow skiing, access to indigenous lakes like Rara and Khaptad etc.
* Create a cell to allow industrialisation based on value addition of agriculture products under patent rights, intellectual properties and bio-diversities under an integrated frame work of WTO.
* Develop Nepal as the hub of South Asia.
* Link Beijing to Bangalore and vice-versa with Nepal as transit facilitator.
* Develop Nepal as a Health, Education and Sports destination.
* Develop Nepal as an offshore centre (we already have a law on this).
* Implementation of SEZ for exports.

Nepal is passing through historical change and if this change cannot deliver the peace dividend the country's future generation will never forgive us. This is the right time to act in order to stop future political conflict. I see a greater chance to deliver and have an equitable society and this is possible through rapid economic growth.
After coming to the end of political issues, now it is up to us to take socio-economic issues and influence the political parties to take the lead. This budget could be an exceptional example of such common understanding.

Rajendra Khetan,
chairman, Khetan Group