What does the private sector say about the budget ?

What did Nepal Chamber of Commerce President Kamlesh Kumar Aggarwal And Chandra Prasad Dhakal, President, FNCCI say in the pre-budget discussion organized by Nepal Economic Journalists Association (SEJAN) ?

Chandra Prasad Dhakal, President, FNCCI :

There were many regulatory and monitoring organizations. This has put the private sector in trouble. There is a problem with regulation and monitoring by many agencies. It has become a commentary that banks and financial institutions have earned a lot of money. But now many banks and financial institutions are in trouble. Some special arrangements are necessary for them, similarly, the tax imposed on mergers and acquisitions of banks and financial institutions has sent a wrong message.

Kamlesh Kumar Agarwal, President, Nepal Chamber of Commerce :

Currently, there is a problem in national capital formation due to the negative growth rate in the production and construction sector. The number of businessmen blacklisted by banks and financial institutions for not being able to pay their debts is increasing. Due to the tight finances and monetary policy taken by the government after covid, there has been a relaxation in the economy. In the current financial year, the economic growth rate of 3.3 percent has been projected, so the government has to protect the private sector by policy to end the economic stagnation. Due to the economic recession, the assets of the private sector have been reduced by up to 50 percent. Increasing the tax rate alone does not increase the revenue. Stealing must be stopped. Don't harass the private sector to increase government revenue. There is also a need to amend the Income Tax Act.